GAMMA Investing LLC Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

GAMMA Investing LLC raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 87,501.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,689,361 shares of the information technology services provider's stock after purchasing an additional 2,686,291 shares during the quarter. GAMMA Investing LLC owned 1.31% of ServiceNow worth $2,141,108,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Avidian Wealth Enterprises LLC grew its stake in shares of ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after purchasing an additional 9 shares during the last quarter. Institute for Wealth Management LLC. boosted its stake in shares of ServiceNow by 0.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock valued at $2,779,000 after buying an additional 11 shares in the last quarter. TBH Global Asset Management LLC boosted its stake in shares of ServiceNow by 3.8% in the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock valued at $320,000 after buying an additional 11 shares in the last quarter. Onefund LLC boosted its stake in shares of ServiceNow by 2.0% in the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock valued at $585,000 after buying an additional 11 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC boosted its stake in shares of ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after buying an additional 11 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 428 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the sale, the director now owns 10,891 shares of the company's stock, valued at $11,039,226.51. This represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. The trade was a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,102 shares of company stock worth $2,944,038 over the last three months. 0.38% of the stock is owned by insiders.

ServiceNow Trading Up 0.0%

ServiceNow stock traded up $0.47 during trading on Monday, hitting $1,011.56. The company's stock had a trading volume of 663,726 shares, compared to its average volume of 1,502,078. The stock has a market capitalization of $209.38 billion, a price-to-earnings ratio of 148.09, a P/E/G ratio of 4.51 and a beta of 0.97. The stock's fifty day moving average is $899.20 and its 200 day moving average is $974.30. ServiceNow, Inc. has a 1-year low of $645.45 and a 1-year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business's quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.41 earnings per share. As a group, equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NOW. Piper Sandler decreased their price target on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Robert W. Baird lifted their price target on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. BMO Capital Markets lifted their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. decreased their target price on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Citigroup boosted their target price on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

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.