Machina Capital S.A.S. Takes $833,000 Position in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Machina Capital S.A.S. invested approximately $833,000 in ServiceNow, acquiring 1,046 shares during the first quarter.
• Institutional investors hold a significant stake in ServiceNow, owning 87.18% of the company's stock, with GAMMA Investing LLC increasing its stake by an astonishing 87,501.3%.
• ServiceNow reported a quarterly EPS of $4.09, exceeding analysts' estimates, with a revenue of $3.22 billion, marking a 22.4% year-over-year increase.

Machina Capital S.A.S. acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,046 shares of the information technology services provider's stock, valued at approximately $833,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after purchasing an additional 509,467 shares during the period. FMR LLC boosted its stake in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after purchasing an additional 272,506 shares during the period. Geode Capital Management LLC boosted its stake in shares of ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after purchasing an additional 100,670 shares during the period. GAMMA Investing LLC boosted its stake in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after purchasing an additional 2,686,291 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of ServiceNow by 3.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider's stock valued at $2,814,433,000 after purchasing an additional 87,876 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NOW. Jefferies Financial Group raised their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a report on Thursday. Canaccord Genuity Group reduced their target price on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. DA Davidson raised their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a report on Thursday. Stifel Nicolaus raised their target price on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 145 shares of the business's stock in a transaction on 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 sale, the insider directly owned 3,027 shares in the company, valued at approximately $3,087,540. The trade was a 4.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 239 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the sale, the director owned 10,404 shares in the company, valued at $10,924,200. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,233 shares of company stock worth $5,297,758. 0.38% of the stock is currently owned by insiders.

ServiceNow Stock Performance

NYSE:NOW traded up $17.92 during midday trading on Monday, reaching $986.71. The stock had a trading volume of 545,453 shares, compared to its average volume of 1,688,989. The stock has a market cap of $204.23 billion, a P/E ratio of 123.97, a P/E/G ratio of 4.42 and a beta of 0.94. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The firm has a fifty day simple moving average of $1,000.33 and a two-hundred day simple moving average of $951.85. 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 (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, topping the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business's revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.13 EPS. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS 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.