17,869 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Waycross Partners LLC

Key Points

• Waycross Partners LLC acquired 17,869 shares of ServiceNow, Inc., valued at approximately $14.2 million, marking it as 1.6% of their investment portfolio.
• ServiceNow reported earnings of $4.09 per share, exceeding analysts' expectations of $3.57, with a year-over-year revenue increase of 22.4% to $3.22 billion.
• Several institutional investors, including Ontario Teachers Pension Plan Board and Deutsche Bank AG, have increased their stakes in ServiceNow, signifying strong interest in the stock.

Waycross Partners LLC purchased a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,869 shares of the information technology services provider's stock, valued at approximately $14,226,000. ServiceNow accounts for approximately 1.6% of Waycross Partners LLC's investment portfolio, making the stock its 29th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in NOW. Ontario Teachers Pension Plan Board grew its position in shares of ServiceNow by 27.1% during the first quarter. Ontario Teachers Pension Plan Board now owns 690 shares of the information technology services provider's stock valued at $549,000 after purchasing an additional 147 shares in the last quarter. Deutsche Bank AG boosted its stake in ServiceNow by 24.0% during the first quarter. Deutsche Bank AG now owns 1,522,141 shares of the information technology services provider's stock valued at $1,211,837,000 after buying an additional 295,080 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in ServiceNow by 10.3% during the 1st quarter. Chicago Partners Investment Group LLC now owns 826 shares of the information technology services provider's stock valued at $658,000 after buying an additional 77 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of ServiceNow by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,355,146 shares of the information technology services provider's stock worth $1,078,886,000 after acquiring an additional 62,224 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new position in shares of ServiceNow during the 1st quarter valued at approximately $19,278,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Up 0.7%

ServiceNow stock opened at $911.07 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $189.50 billion, a P/E ratio of 114.74, a P/E/G ratio of 4.08 and a beta of 0.93. The business has a fifty day moving average of $988.58 and a two-hundred day moving average of $947.68. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the prior year, the business posted $3.13 EPS. The firm's quarterly revenue was up 22.4% on a year-over-year basis. On average, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NOW shares. UBS Group reduced their price target on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Stifel Nicolaus boosted their target price on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Jefferies Financial Group increased their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a report on Thursday, July 24th. FBN Securities raised ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Finally, Canaccord Genuity Group decreased their price objective on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,115.20.

Insider Buying and Selling at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the transaction, the insider owned 3,000 shares of the company's stock, valued at $3,060,000. The trade was a 28.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the sale, the chief executive officer directly owned 6,614 shares of the company's stock, valued at $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,250 shares of company stock valued at $5,318,667. 0.38% of the stock is currently owned by corporate insiders.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.

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