Headlands Technologies LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

Headlands Technologies LLC bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,470 shares of the information technology services provider's stock, valued at approximately $1,966,000.

Other hedge funds also recently bought and sold shares of the company. Bogart Wealth LLC grew its holdings in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 17 shares during the period. Graybill Wealth Management LTD. purchased a new stake in ServiceNow in the first quarter worth $26,000. Quarry LP bought a new position in ServiceNow in the fourth quarter worth $27,000. WASHINGTON TRUST Co lifted its position in ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after buying an additional 31 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research reports. Canaccord Genuity Group decreased their price target 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. JPMorgan Chase & Co. lowered their target price on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Guggenheim reaffirmed a "sell" rating and set a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research note on Tuesday, July 8th. Finally, Stifel Nicolaus raised their price target on ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,115.20.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider directly owned 3,000 shares in the company, valued at $3,060,000. This represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anita M. Sands sold 239 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the sale, the director directly owned 10,404 shares of the company's stock, valued at approximately $10,924,200. This trade represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

ServiceNow Trading Down 4.4%

ServiceNow stock opened at $872.31 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The firm has a market capitalization of $181.44 billion, a price-to-earnings ratio of 109.86, a P/E/G ratio of 4.11 and a beta of 0.93. The firm has a 50 day moving average of $985.72 and a 200 day moving average of $946.30.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. The company had revenue of $3.22 billion for 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%. ServiceNow's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.13 EPS. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current 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.

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.