GAMMA Investing LLC increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 20.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,059 shares of the information technology services provider's stock after buying an additional 681 shares during the quarter. GAMMA Investing LLC's holdings in ServiceNow were worth $4,173,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow in the second quarter valued at $30,000. Bogart Wealth LLC raised its position in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the first quarter worth $26,000. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth $37,000. Finally, WASHINGTON TRUST Co raised its position in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.
ServiceNow Price Performance
Shares of NYSE:NOW opened at $963.21 on Monday. The business has a 50 day moving average price of $922.60 and a 200 day moving average price of $923.83. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a market cap of $200.35 billion, a price-to-earnings ratio of 121.31, a PEG ratio of 4.33 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 announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $3.12 billion. During the same quarter in the prior year, the company earned $3.13 EPS. The firm's revenue for the quarter was up 22.4% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.
Analyst Ratings Changes
NOW has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Wells Fargo & Company boosted their target price on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Guggenheim reaffirmed a "sell" rating and set a $724.00 target price on shares of ServiceNow in a research report on Thursday, July 17th. Finally, Raymond James Financial boosted their target price 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. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.
Read Our Latest Stock Analysis on ServiceNow
Insider Transactions at ServiceNow
In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer owned 12,228 shares of the company's stock, valued at $10,594,950.60. This represents a 12.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company'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 value of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares of the company's stock, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,976 shares of company stock worth $17,049,775. 0.38% of the stock is currently owned by company insiders.
ServiceNow Profile
(
Free Report)
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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