Sender Co & Partners Inc. Purchases Shares of 6,083 ServiceNow, Inc. $NOW

Key Points

• Sender Co & Partners Inc. acquired a stake of 6,083 shares in ServiceNow, valued at approximately $4.84 million, making it the 11th largest holding in their investment portfolio.
• Insider sales included Vice Chairman Nicholas Tzitzon selling 1,719 shares and CEO William R. Mcdermott selling 5,825 shares, leading to significant decreases in their ownership positions.
• Analysts have mixed ratings on ServiceNow, with the consensus rating at "Moderate Buy" and a target price of $1,115.20, reflecting varying views on the company's potential performance.

Sender Co & Partners Inc. bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,083 shares of the information technology services provider's stock, valued at approximately $4,843,000. ServiceNow accounts for about 2.5% of Sender Co & Partners Inc.'s investment portfolio, making the stock its 11th largest position.

A number of other hedge funds have also added to or reduced their stakes in the stock. Haverford Trust Co boosted its stake in shares of ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock worth $936,000 after buying an additional 10 shares during the last quarter. Edgemoor Investment Advisors Inc. lifted its holdings in ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after acquiring an additional 11 shares during the period. Integrated Investment Consultants LLC lifted its holdings in ServiceNow by 2.5% in the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after acquiring an additional 11 shares during the period. one8zero8 LLC boosted its position in ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock worth $283,000 after purchasing an additional 11 shares during the last quarter. Finally, Capital Investment Advisory Services LLC grew its stake in shares of ServiceNow by 2.1% during the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock valued at $459,000 after purchasing an additional 12 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JMP Securities reiterated a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Monday, August 4th. BMO Capital Markets upped their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Erste Group Bank reiterated a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research note on Tuesday, July 8th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $1,200.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

ServiceNow Price Performance

NYSE:NOW traded down $4.87 on Tuesday, reaching $934.46. 1,195,902 shares of the company's stock traded hands, compared to its average volume of 1,734,947. The stock has a 50-day simple moving average of $933.46 and a 200-day simple moving average of $922.29. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The firm has a market cap of $194.37 billion, a PE ratio of 117.69, a P/E/G ratio of 4.24 and a beta of 0.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share 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 analyst estimates of $3.12 billion. During the same quarter in the prior year, the company posted $3.13 earnings per share. The business's quarterly revenue was up 22.4% compared to the same quarter last year. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 5,825 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the sale, the insider owned 3,027 shares in the company, valued at approximately $2,622,744.15. This represents a 34.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,976 shares of company stock worth $17,049,775 over the last ninety days. 0.38% of the stock is owned by company insiders.

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.