ServiceNow, Inc. $NOW Shares Purchased by Chicago Capital LLC

Key Points

• Chicago Capital LLC increased its stake in ServiceNow, Inc. by 1.0% during Q2, now holding approximately $81 million worth of shares, making it the firm's 17th largest investment.
• ServiceNow reported an earnings per share (EPS) of $4.09 for the last quarter, surpassing estimates by $0.52, with quarterly revenue up 22.4% year-over-year.
• Institutional investors own 87.18% of ServiceNow's stock, indicating strong confidence in the company's future growth.

Chicago Capital LLC boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,951 shares of the information technology services provider's stock after buying an additional 744 shares during the quarter. ServiceNow accounts for approximately 2.0% of Chicago Capital LLC's holdings, making the stock its 17th biggest holding. Chicago Capital LLC's holdings in ServiceNow were worth $81,168,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. Nuveen LLC acquired a new position in ServiceNow in the 1st quarter worth $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in ServiceNow by 1,586.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock worth $742,965,000 after buying an additional 877,875 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in ServiceNow by 131.4% in the 1st 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 buying an additional 840,731 shares in the last quarter. Parnassus Investments LLC acquired a new position in ServiceNow in the 1st quarter worth $519,806,000. Finally, Amundi lifted its holdings in ServiceNow by 61.9% in the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider's stock worth $1,269,777,000 after buying an additional 626,623 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Trading Up 0.4%

Shares of NYSE:NOW opened at $940.05 on Tuesday. The company has a 50 day moving average of $919.33 and a 200-day moving average of $928.48. The firm has a market cap of $195.53 billion, a P/E ratio of 118.39, a P/E/G ratio of 4.22 and a beta of 0.91. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve 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 released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the business earned $3.13 earnings per share. The business's quarterly revenue was up 22.4% on a year-over-year basis. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JMP Securities reiterated a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a report on Monday, August 4th. Mizuho boosted their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. Wall Street Zen downgraded shares of ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, DA Davidson boosted their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,122.20.

Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the 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 directly owned 3,000 shares of the company's stock, valued at $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 1,097 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the sale, the director directly owned 9,307 shares of the company's stock, valued at approximately $8,516,928.77. This represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,976 shares of company stock valued at $17,049,775. Corporate insiders own 0.38% of the company's stock.

ServiceNow Company 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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