ServiceNow, Inc. $NOW Stake Lifted by Two Star Manager LLC

Key Points

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Two Star Manager LLC raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,596 shares of the information technology services provider's stock after acquiring an additional 2,560 shares during the quarter. ServiceNow makes up 7.5% of Two Star Manager LLC's holdings, making the stock its 4th biggest position. Two Star Manager LLC's holdings in ServiceNow were worth $15,601,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its stake in ServiceNow by 113.3% in the 1st 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 in the last quarter. Graybill Wealth Management LTD. purchased a new stake in ServiceNow in the 1st quarter worth approximately $26,000. Quarry LP purchased a new stake in shares of ServiceNow during the 4th quarter valued at $27,000. WASHINGTON TRUST Co raised its position in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after buying an additional 31 shares in the last quarter. Finally, Dagco Inc. purchased a new stake in shares of ServiceNow during the 1st quarter valued at $33,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 67 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $860.57, for a total value of $57,658.19. Following the completion of the transaction, the insider owned 3,027 shares in the company, valued at approximately $2,604,945.39. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence Jackson sold 757 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $990.50, for a total value of $749,808.50. Following the completion of the sale, the director directly owned 588 shares of the company's stock, valued at approximately $582,414. This trade represents a 56.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,038 shares of company stock valued at $5,971,973. 0.38% of the stock is owned by company insiders.

ServiceNow Trading Up 2.7%

Shares of ServiceNow stock opened at $890.73 on Tuesday. The firm has a market cap of $185.27 billion, a price-to-earnings ratio of 112.18, a price-to-earnings-growth ratio of 3.91 and a beta of 0.93. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company's 50-day simple moving average is $964.30 and its 200-day simple moving average is $932.15. 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 quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The firm's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.13 EPS. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analysts Set New Price Targets

NOW has been the topic of several research reports. Bank of America raised their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. UBS Group lowered their price objective on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Canaccord Genuity Group lowered their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, BMO Capital Markets raised their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

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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