Sapient Capital LLC Acquires 56,444 Shares of ServiceNow, Inc. $NOW

Key Points

• Sapient Capital increased its ServiceNow stake by 266% in the second quarter, purchasing 56,444 additional shares for a total of 77,661 shares valued at approximately $7.71 million.
• ServiceNow reported quarterly earnings of $0.90 per share, exceeding estimates by $0.04, while revenue reached $3.99 billion and grew 24% year over year.
• Wall Street maintains a “Moderate Buy” consensus, with 36 Buy ratings and an average price target of $143.39 versus the stock’s reported $124.91 price; institutional investors own 87.18% of shares.

Sapient Capital LLC raised its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 266.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,661 shares of the information technology services provider's stock after buying an additional 56,444 shares during the quarter. Sapient Capital LLC's holdings in ServiceNow were worth $7,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Millstone Evans Group LLC increased its holdings in shares of ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its position in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock worth $25,000 after buying an additional 135 shares in the last quarter. Blueline Advisors LLC bought a new stake in ServiceNow in the 4th quarter worth approximately $25,000. Measured Wealth Private Client Group LLC increased its stake in ServiceNow by 560.0% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 140 shares during the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of ServiceNow during the 4th quarter worth approximately $25,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

NYSE:NOW opened at $124.91 on Monday. The firm has a market capitalization of $129.16 billion, a PE ratio of 78.07, a PEG ratio of 2.20 and a beta of 0.94. The stock's fifty day moving average is $106.73 and its 200 day moving average is $105.71. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $194.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The business's revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other news, insider Paul Fipps sold 1,048 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anita M. Sands sold 16,445 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director directly owned 30,090 shares of the company's stock, valued at $2,712,312.60. This represents a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,993 shares of company stock worth $1,716,436 over the last 90 days. Company insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley set a $180.00 target price on ServiceNow in a research report on Tuesday, July 21st. TD Cowen reaffirmed a "buy" rating and set a $140.00 price target on shares of ServiceNow in a research note on Friday, July 17th. Guggenheim upgraded shares of ServiceNow from a "neutral" rating to a "buy" rating and set a $125.00 price objective for the company in a research report on Wednesday, July 1st. Mizuho dropped their price objective on shares of ServiceNow from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Finally, Benchmark restated a "buy" rating on shares of ServiceNow in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $143.39.

ServiceNow Profile

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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