Princeton Capital Management LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Princeton Capital Management LLC bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,392 shares of the information technology services provider's stock, valued at approximately $1,108,000.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in 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 acquiring an additional 509,467 shares during the period. FMR LLC boosted its position in shares of ServiceNow by 4.9% during 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 buying an additional 272,506 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of ServiceNow by 2.4% during 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 buying an additional 100,670 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of ServiceNow by 87,501.3% during 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 buying an additional 2,686,291 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of ServiceNow by 3.4% during 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 buying an additional 87,876 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NOW has been the topic of a number of recent analyst reports. Guggenheim reiterated a "sell" rating and set a $724.00 price target on shares of ServiceNow in a report on Thursday, July 17th. JMP Securities reiterated a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a report on Tuesday, July 22nd. Truist Financial upgraded ServiceNow from a "hold" rating to a "buy" rating and lifted their price target for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,115.20.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anita M. Sands sold 239 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $1,050.00, for a total value of $250,950.00. Following the sale, the director owned 10,404 shares of the company's stock, valued at $10,924,200. This represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,233 shares of company stock worth $5,297,758 over the last three months. Corporate insiders own 0.38% of the company's stock.

ServiceNow Price Performance

Shares of NOW traded up $16.46 during midday trading on Monday, reaching $985.25. The stock had a trading volume of 786,029 shares, compared to its average volume of 1,690,648. The company's 50-day moving average is $1,000.33 and its 200 day moving average is $951.85. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $203.93 billion, a price-to-earnings ratio of 124.24, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data 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 return on equity of 18.04% and a net margin of 13.78%. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the prior year, the business earned $3.13 EPS. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. On average, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal 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.