GSA Capital Partners LLP Purchases 482 Shares of ServiceNow, Inc. (NYSE:NOW)

Key Points

• GSA Capital Partners LLP increased its stake in ServiceNow, Inc. by 94.5% in Q1, owning a total of 992 shares valued at $790,000.
• CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock for $2,074,620.50, reducing his ownership by 23.66%.
• ServiceNow reported earnings of $4.09 per share, exceeding analyst expectations and showcasing 22.4% year-over-year revenue growth in the last quarter.

GSA Capital Partners LLP lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 94.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 992 shares of the information technology services provider's stock after buying an additional 482 shares during the period. GSA Capital Partners LLP's holdings in ServiceNow were worth $790,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Edgemoor Investment Advisors Inc. increased its position in shares of ServiceNow by 2.5% during the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after buying an additional 11 shares during the period. Integrated Investment Consultants LLC increased its stake in shares of ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after purchasing an additional 11 shares in the last quarter. one8zero8 LLC increased its stake in shares of ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock valued at $283,000 after purchasing an additional 11 shares in the last quarter. Capital Investment Advisory Services LLC increased its stake in shares of ServiceNow by 2.1% during the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock valued at $459,000 after purchasing an additional 12 shares in the last quarter. Finally, Sepio Capital LP boosted its holdings in ServiceNow by 3.8% in the fourth quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock worth $381,000 after acquiring an additional 13 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Trading Up 0.8%

ServiceNow stock traded up $7.65 during trading hours on Monday, hitting $922.02. The company had a trading volume of 1,285,082 shares, compared to its average volume of 1,623,128. The firm has a market cap of $191.78 billion, a P/E ratio of 116.12, a P/E/G ratio of 4.12 and a beta of 0.93. 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, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a 50-day moving average price of $994.89 and a two-hundred day moving average price of $949.28.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (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 firm's quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.13 EPS. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NOW shares. Bank of America boosted their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Royal Bank Of Canada increased their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. TD Securities reiterated a "buy" rating and set a $1,100.00 price target on shares of ServiceNow in a report on Thursday, April 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. Finally, Guggenheim reiterated a "sell" rating and set a $724.00 price target on shares of ServiceNow in a report on Thursday, July 17th. One 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

Insiders Place Their Bets

In other news, Director Lawrence Jackson sold 757 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $990.50, for a total value of $749,808.50. Following the completion of the sale, the director owned 588 shares in the company, valued at approximately $582,414. The trade was a 56.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 145 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $147,900.00. Following the completion of the sale, the insider owned 3,027 shares of the company's stock, valued at approximately $3,087,540. This represents a 4.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,990 shares of company stock worth $6,047,567. 0.38% of the stock is owned by corporate insiders.

ServiceNow Company 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.