6,853 Shares in ServiceNow, Inc. $NOW Bought by Campbell & CO Investment Adviser LLC

Key Points

• Campbell & CO Investment Adviser LLC invested approximately $5.46 million in ServiceNow, acquiring 6,853 shares, which makes it the firm's 27th largest position.
• Numerous institutional investors, including Kovitz Investment Group Partners LLC, have significantly increased their stakes in ServiceNow, indicating strong interest in the company.
• ServiceNow's recent quarterly earnings exceeded analyst expectations, reporting $4.09 earnings per share and a 22.4% increase in revenue year-over-year.

Campbell & CO Investment Adviser LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,853 shares of the information technology services provider's stock, valued at approximately $5,456,000. ServiceNow accounts for 0.4% of Campbell & CO Investment Adviser LLC's holdings, making the stock its 27th biggest position.

Several other hedge funds have also recently made changes to their positions in NOW. Quarry LP bought a new stake in ServiceNow in the fourth quarter valued at $27,000. Bogart Wealth LLC increased its position in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new position in ServiceNow in the first quarter worth about $26,000. Heck Capital Advisors LLC purchased a new stake in ServiceNow in the fourth quarter worth about $37,000. Finally, WASHINGTON TRUST Co lifted its holdings in ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after buying an additional 31 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer directly owned 12,228 shares in the company, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 1,585 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $900.00, for a total transaction of $1,426,500.00. Following the sale, the chief executive officer directly owned 12,439 shares of the company's stock, valued at approximately $11,195,100. The trade was a 11.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,668 shares of company stock worth $14,373,737. 0.38% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on NOW. Jefferies Financial Group lifted their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Mizuho increased their price target on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Piper Sandler boosted their price objective on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. Finally, Wall Street Zen raised ServiceNow from a "hold" rating to a "buy" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

ServiceNow Stock Performance

Shares of NOW stock traded up $24.16 during trading hours on Wednesday, reaching $888.82. The company had a trading volume of 1,195,829 shares, compared to its average volume of 1,710,319. The firm has a market cap of $184.87 billion, a PE ratio of 111.94, a price-to-earnings-growth ratio of 3.97 and a beta of 0.93. The business has a fifty day moving average price of $949.76 and a 200-day moving average price of $927.07. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

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

ServiceNow Profile

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.