Sei Investments Co. Raises Stake in ServiceNow, Inc. $NOW

Key Points

• Sei Investments increased its stake in ServiceNow by 7.1% in Q3, adding 26,241 shares to hold 396,517 shares valued at about $364.9 million (roughly 0.19% of the company).
• Insiders sold shares recently — including Director Paul Chamberlain and Paul Fipps — totaling 16,237 shares in the last 90 days, and corporate insiders now own about 0.34% of the stock.
• ServiceNow beat its recent quarter with $0.92 EPS vs. $0.89 est. and $3.57B revenue (up 20.7% YoY); the stock trades well below its 12‑month high, carries a consensus rating of Moderate Buy and a $192.06 average price target.

Sei Investments Co. grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 396,517 shares of the information technology services provider's stock after purchasing an additional 26,241 shares during the quarter. Sei Investments Co. owned approximately 0.19% of ServiceNow worth $364,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brady Martz Wealth Solutions LLC raised its position in shares of ServiceNow by 1.3% during the 3rd quarter. Brady Martz Wealth Solutions LLC now owns 842 shares of the information technology services provider's stock valued at $775,000 after purchasing an additional 11 shares during the period. Magnus Financial Group LLC boosted its holdings in ServiceNow by 1.9% in the 3rd quarter. Magnus Financial Group LLC now owns 589 shares of the information technology services provider's stock worth $542,000 after buying an additional 11 shares during the period. Avidian Wealth Enterprises LLC increased its stake in ServiceNow by 2.5% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 453 shares of the information technology services provider's stock worth $417,000 after buying an additional 11 shares in the last quarter. Traveka Wealth LLC increased its stake in ServiceNow by 3.8% in the 3rd quarter. Traveka Wealth LLC now owns 330 shares of the information technology services provider's stock worth $304,000 after buying an additional 12 shares in the last quarter. Finally, Regatta Capital Group LLC raised its holdings in ServiceNow by 1.9% during the third quarter. Regatta Capital Group LLC now owns 633 shares of the information technology services provider's stock valued at $583,000 after acquiring an additional 12 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the sale, the director owned 46,430 shares in the company, valued at approximately $4,697,323.10. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Fipps sold 3,696 shares of the company's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.77, for a total transaction of $376,141.92. Following the sale, the insider directly owned 8,061 shares in the company, valued at approximately $820,367.97. The trade was a 31.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,237 shares of company stock valued at $1,697,162 in the last ninety days. Corporate insiders own 0.34% of the company's stock.

ServiceNow Trading Down 2.5%

Shares of NOW stock opened at $112.76 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $117.95 billion, a price-to-earnings ratio of 67.60, a price-to-earnings-growth ratio of 1.96 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $98.00 and a 12-month high of $211.48. The stock's 50-day moving average price is $119.93 and its 200-day moving average price is $155.79.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. ServiceNow had a return on equity of 18.54% and a net margin of 13.16%.The company had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same period in the prior year, the company earned $0.73 earnings per share. The firm's revenue was up 20.7% on a year-over-year basis. Equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on NOW shares. Wall Street Zen downgraded ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Canaccord Genuity Group set a $200.00 target price on ServiceNow in a research report on Thursday, January 29th. Citigroup lifted their target price on ServiceNow from $235.00 to $237.00 and gave the company a "buy" rating in a research note on Friday, January 30th. Truist Financial set a $175.00 price target on ServiceNow in a research note on Thursday, February 5th. Finally, Macquarie Infrastructure cut their price objective on shares of ServiceNow from $172.00 to $140.00 and set a "neutral" rating for the company in a report on Thursday, January 29th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.06.

ServiceNow Company 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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