ServiceNow, Inc. $NOW Shares Acquired by Sava Infond d.o.o.

Key Points

• Sava Infond d.o.o. increased its holdings in ServiceNow, Inc. by 10.1% in Q2, owning 28,010 shares valued at approximately $28.8 million, making it the firm's 5th largest holding.
• Several hedge funds have also modified their ServiceNow holdings, with 87.18% of the stock now owned by institutional investors and hedge funds.
• ServiceNow reported $4.09 earnings per share for the last quarter, exceeding estimates and representing a 22.4% year-over-year revenue increase.

Sava Infond d.o.o. grew its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 10.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,010 shares of the information technology services provider's stock after buying an additional 2,570 shares during the quarter. ServiceNow comprises 4.5% of Sava Infond d.o.o.'s investment portfolio, making the stock its 5th biggest holding. Sava Infond d.o.o.'s holdings in ServiceNow were worth $28,797,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $30,000. Bogart Wealth LLC lifted its holdings in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow in the 1st quarter valued at approximately $26,000. WASHINGTON TRUST Co raised its holdings in 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 last quarter. Finally, Dagco Inc. acquired a new position in ServiceNow during the first quarter worth $33,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOW has been the subject of several research reports. FBN Securities raised ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. Guggenheim reaffirmed a "sell" rating and set a $724.00 price objective on shares of ServiceNow in a report on Thursday, July 17th. Wells Fargo & Company lifted their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. BMO Capital Markets lifted their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Wall Street Zen cut ServiceNow from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,122.20.

ServiceNow Stock Performance

ServiceNow stock opened at $911.75 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a fifty day moving average of $914.67 and a two-hundred day moving average of $929.33. The company has a market capitalization of $189.64 billion, a price-to-earnings ratio of 114.83, a PEG ratio of 4.10 and a beta of 0.92. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate 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 was up 22.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.13 earnings per share. On average, analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the sale, the insider owned 3,000 shares of the company's stock, valued at $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the sale, the chief executive officer directly owned 6,614 shares of the company's stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,737 shares of company stock valued at $16,798,825. 0.38% of the stock is currently 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.

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