Landscape Capital Management L.L.C. Boosts Stock Position in ServiceNow, Inc. $NOW

Key Points

• Landscape Capital Management L.L.C. increased its stake in ServiceNow, Inc. by 78.7%, owning 3,379 shares worth approximately $2.69 million as reported in their latest SEC filing.
• Several institutional investors have significantly altered their positions in ServiceNow, with 87.18% of the stock now owned by hedge funds and other institutional investors.
• ServiceNow reported better-than-expected earnings with an EPS of $4.09 against a consensus estimate of $3.57, and a revenue of $3.22 billion for the last quarter.

Landscape Capital Management L.L.C. boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 78.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,379 shares of the information technology services provider's stock after purchasing an additional 1,488 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in ServiceNow were worth $2,690,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new position in shares of ServiceNow in the 1st quarter valued at about $382,000. Janus Henderson Group PLC raised its position in ServiceNow by 1.5% during the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock valued at $874,258,000 after purchasing an additional 12,533 shares during the period. Corient IA LLC bought a new stake in shares of ServiceNow in the 1st quarter valued at approximately $796,000. Parr Mcknight Wealth Management Group LLC purchased a new position in shares of ServiceNow in the 1st quarter worth approximately $1,820,000. Finally, ASR Vermogensbeheer N.V. bought a new position in shares of ServiceNow during the 1st quarter valued at approximately $19,278,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the sale, the general counsel directly owned 4,332 shares in the company, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the firm's stock in a transaction 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 owned 12,228 shares in the company, valued at approximately $10,594,950.60. This represents a 12.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,302 shares of company stock valued at $10,956,796 in the last ninety days. Corporate insiders own 0.38% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on NOW shares. Mizuho increased their price target on ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Raymond James Financial increased their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. 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 report on Thursday, July 24th. Wall Street Zen upgraded shares of ServiceNow from a "hold" rating to a "buy" rating in a report on Tuesday, July 29th. Finally, Wells Fargo & Company increased their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

ServiceNow Trading Up 4.6%

NOW stock opened at $928.80 on Friday. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The firm's 50-day moving average is $946.91 and its 200 day moving average is $926.16. The company has a market capitalization of $193.19 billion, a PE ratio of 116.98, a P/E/G ratio of 4.01 and a beta of 0.93. 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 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, research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current 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.

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.