Fox Run Management L.L.C. Purchases New Position in ServiceNow, Inc. $NOW

Fox Run Management L.L.C. acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 499 shares of the information technology services provider's stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Seaview Investment Managers LLC grew its position in shares of ServiceNow by 17.8% in the 1st quarter. Seaview Investment Managers LLC now owns 417 shares of the information technology services provider's stock valued at $332,000 after acquiring an additional 63 shares during the period. Trivium Point Advisory LLC grew its position in shares of ServiceNow by 7.9% in the 1st quarter. Trivium Point Advisory LLC now owns 1,005 shares of the information technology services provider's stock valued at $800,000 after acquiring an additional 74 shares during the period. Cookson Peirce & Co. Inc. grew its position in shares of ServiceNow by 28.7% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 1,800 shares of the information technology services provider's stock valued at $1,433,000 after acquiring an additional 401 shares during the period. Oak Ridge Investments LLC grew its position in shares of ServiceNow by 4.9% in the 1st quarter. Oak Ridge Investments LLC now owns 11,790 shares of the information technology services provider's stock valued at $9,386,000 after acquiring an additional 549 shares during the period. Finally, Vestmark Advisory Solutions Inc. grew its position in shares of ServiceNow by 74.1% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 13,176 shares of the information technology services provider's stock valued at $10,490,000 after acquiring an additional 5,606 shares during the period. Institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on NOW shares. Royal Bank Of Canada lifted their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Needham & Company LLC raised their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Canaccord Genuity Group cut their target price 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. JMP Securities restated 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, Evercore ISI raised their target price 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. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,115.20.

ServiceNow Price Performance

Shares of NYSE:NOW traded down $4.6480 during midday trading on Tuesday, hitting $887.4020. The stock had a trading volume of 2,183,699 shares, compared to its average volume of 1,963,573. The company's 50-day moving average price is $961.85 and its 200-day moving average price is $931.84. The company has a market capitalization of $184.58 billion, a P/E ratio of 111.76, a price-to-earnings-growth ratio of 4.02 and a beta of 0.93. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.13 EPS. As a group, equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the sale, the insider directly owned 3,027 shares of the company's stock, valued at approximately $2,622,744.15. The trade was a 34.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the sale, the insider directly owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,361 shares of company stock worth $10,579,976. 0.38% of the stock is owned by company insiders.

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.