MGO One Seven LLC Has $3.31 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Key Points

• MGO One Seven LLC increased its holdings in ServiceNow, Inc. by 39.6% in the first quarter, reaching a total value of $3.31 million from owning 4,153 shares.
• A significant number of large investors have recently added to their positions in ServiceNow, with 87.18% of the stock currently owned by institutional investors and hedge funds.
• Despite insider sales by key executives, including the CFO and CEO, analysts maintain a consensus rating of "Moderate Buy" for the company's stock.

MGO One Seven LLC increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 39.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,153 shares of the information technology services provider's stock after buying an additional 1,178 shares during the period. MGO One Seven LLC's holdings in ServiceNow were worth $3,306,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after buying an additional 509,467 shares in the last quarter. FMR LLC lifted its position in shares of ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after buying an additional 272,506 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after buying an additional 2,686,291 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of ServiceNow by 3.4% during the 4th 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 worth $2,814,433,000 after buying an additional 87,876 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of ServiceNow by 4.9% during the 4th quarter. Nuveen Asset Management LLC now owns 2,343,840 shares of the information technology services provider's stock worth $2,484,752,000 after buying an additional 109,293 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 292 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $287,620.00. Following the completion of the transaction, the chief financial officer owned 11,198 shares of the company's stock, valued at approximately $11,030,030. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,990 shares of company stock valued at $6,047,567 over the last quarter. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup lifted their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Robert W. Baird lifted their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Evercore ISI lifted their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Finally, Guggenheim reaffirmed a "sell" rating and issued a $724.00 price target on shares of ServiceNow in a report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $942.84 on Friday. The company has a market cap of $196.11 billion, a price-to-earnings ratio of 118.75, a price-to-earnings-growth ratio of 4.40 and a beta of 0.94. The company has a 50-day moving average price of $996.72 and a 200-day moving average price of $951.56. 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.

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

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.

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