ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Virtu Financial LLC

Key Points

• Virtu Financial LLC significantly increased its stake in ServiceNow, Inc. by 214.5%, now holding 23,640 shares worth approximately $18.82 million.
• ServiceNow reported a quarterly earnings per share of $4.09, exceeding analysts' expectations of $3.57, with revenue growth of 22.4% year-over-year.
• Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and a price target averaging around $1,115.20.

Virtu Financial LLC increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 214.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,640 shares of the information technology services provider's stock after buying an additional 16,123 shares during the period. ServiceNow comprises 1.0% of Virtu Financial LLC's portfolio, making the stock its 9th largest holding. Virtu Financial LLC's holdings in ServiceNow were worth $18,820,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Edgemoor Investment Advisors Inc. increased its position in ServiceNow by 2.5% during the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $366,000 after purchasing an additional 11 shares during the last quarter. Integrated Investment Consultants LLC increased its position in ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock worth $358,000 after purchasing an additional 11 shares during the last quarter. one8zero8 LLC increased its position in ServiceNow by 3.2% during 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. Capital Investment Advisory Services LLC increased its position in ServiceNow by 2.1% during the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock worth $459,000 after purchasing an additional 12 shares during the last quarter. Finally, Argent Trust Co increased its position in ServiceNow by 0.4% during the first quarter. Argent Trust Co now owns 3,363 shares of the information technology services provider's stock worth $2,677,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NOW shares. Oppenheimer reaffirmed an "outperform" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. DA Davidson boosted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Guggenheim reiterated a "sell" rating and set a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. Finally, Mizuho boosted their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

ServiceNow Stock Down 0.3%

NOW stock opened at $871.70 on Friday. 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, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm's 50-day simple moving average is $982.92 and its 200 day simple moving average is $943.49. The stock has a market cap of $181.31 billion, a PE ratio of 109.79, a price-to-earnings-growth ratio of 3.93 and a beta of 0.93.

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 net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter last year, the company earned $3.13 EPS. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the transaction, the director owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the transaction, the insider directly owned 3,000 shares in the company, valued at approximately $3,060,000. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,250 shares of company stock worth $5,318,667 in the last 90 days. 0.38% of the stock is currently owned by corporate 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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