Sapient Capital LLC Raises Stake in ServiceNow, Inc. $NOW

Sapient Capital LLC raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 50.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,188 shares of the information technology services provider's stock after buying an additional 400 shares during the quarter. Sapient Capital LLC's holdings in ServiceNow were worth $1,221,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wealth Preservation Advisors LLC purchased a new stake in shares of ServiceNow in the first quarter valued at about $382,000. Corient IA LLC purchased 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 stake in shares of ServiceNow in the 1st quarter valued at approximately $1,820,000. ASR Vermogensbeheer N.V. purchased a new stake in shares of ServiceNow in the 1st quarter valued at approximately $19,278,000. Finally, Goldman Sachs Group Inc. grew its position in ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock worth $1,178,706,000 after acquiring an additional 840,731 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Activity

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the sale, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. The trade was a 36.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Fipps sold 1,452 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider owned 457 shares of the company's stock, valued at $409,037.85. This represents a 76.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,976 shares of company stock valued at $17,049,775 over the last 90 days. Insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NOW. Raymond James Financial increased their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. DA Davidson increased their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. UBS Group lowered their target price on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. Finally, Piper Sandler increased their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. One 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

ServiceNow Price Performance

ServiceNow stock opened at $950.82 on Thursday. The stock has a market cap of $197.77 billion, a P/E ratio of 119.75, a price-to-earnings-growth ratio of 4.20 and a beta of 0.91. The company has a fifty day simple moving average of $922.51 and a 200-day simple moving average of $922.73. 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.

ServiceNow (NYSE:NOW - Get Free Report) last announced 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. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow's revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.13 EPS. Equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal 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.

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