Andar Capital Management HK Ltd Purchases New Position in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Andar Capital Management HK Ltd purchased a new stake in ServiceNow, Inc., acquiring 6,000 shares valued at approximately $4.8 million, making it their third largest holding.
• Institutional investors hold a significant majority of ServiceNow's stock, with 87.18% ownership, while several other large investors have also adjusted their positions recently.
• ServiceNow reported earnings of $4.09 per share for the last quarter, exceeding expectations, and its revenue increased by 22.4% compared to the same quarter last year.

Andar Capital Management HK Ltd bought a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,000 shares of the information technology services provider's stock, valued at approximately $4,777,000. ServiceNow makes up about 9.2% of Andar Capital Management HK Ltd's investment portfolio, making the stock its 3rd largest position.

Several other large investors have also recently bought and sold shares of the company. Edgemoor Investment Advisors Inc. lifted its stake in shares of ServiceNow by 2.5% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $366,000 after buying an additional 11 shares during the last quarter. Integrated Investment Consultants LLC lifted its stake in shares of ServiceNow by 2.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock worth $358,000 after buying an additional 11 shares during the last quarter. one8zero8 LLC lifted its stake in shares of ServiceNow by 3.2% during the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock worth $283,000 after buying an additional 11 shares during the last quarter. Capital Investment Advisory Services LLC lifted its stake in shares of ServiceNow by 2.1% during the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock worth $459,000 after buying an additional 12 shares during the last quarter. Finally, Sepio Capital LP lifted its stake in shares of ServiceNow by 3.8% during the 4th quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock worth $381,000 after buying an additional 13 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer owned 6,614 shares in the company, valued at $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 145 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $147,900.00. Following the completion of the sale, the insider owned 3,027 shares in the company, valued at approximately $3,087,540. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,990 shares of company stock worth $6,047,567. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

NOW has been the subject of several analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Monday. Evercore ISI lifted their price objective on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. UBS Group dropped their price objective on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Canaccord Genuity Group dropped their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

ServiceNow Stock Performance

NYSE NOW traded up $7.65 during trading hours on Monday, hitting $922.02. The company's stock had a trading volume of 1,285,082 shares, compared to its average volume of 1,623,128. The company's 50 day simple moving average is $994.89 and its two-hundred day simple moving average is $949.28. The company has a market cap of $191.78 billion, a P/E ratio of 116.12, a price-to-earnings-growth ratio of 4.12 and a beta of 0.93. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

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

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.