ServiceNow, Inc. (NYSE:NOW) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 10.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,378 shares of the information technology services provider's stock after acquiring an additional 308 shares during the period. GAMMA Investing LLC's holdings in ServiceNow were worth $2,689,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Onefund LLC lifted its holdings in ServiceNow by 2.0% in the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after buying an additional 11 shares in the last quarter. Cassady Schiller Wealth Management LLC lifted its position in shares of ServiceNow by 44.0% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after buying an additional 11 shares during the last quarter. Plancorp LLC boosted its stake in ServiceNow by 4.1% in the fourth quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock valued at $327,000 after acquiring an additional 12 shares during the period. Kesler Norman & Wride LLC boosted its position in ServiceNow by 1.2% during the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock valued at $1,157,000 after purchasing an additional 13 shares during the period. Finally, Sepio Capital LP boosted its holdings in shares of ServiceNow by 3.8% during the fourth quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock valued at $381,000 after acquiring an additional 13 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Evercore ISI increased their price objective on ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Truist Financial upgraded ServiceNow from a "hold" rating to a "buy" rating and lifted their target price for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. Jefferies Financial Group cut their price target on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Citigroup increased their price objective on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Needham & Company LLC reissued a "buy" rating and set a $1,050.00 target price on shares of ServiceNow in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,065.32.

Insider Activity

In related news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the sale, the chief executive officer now directly owns 6,614 shares in the company, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 62 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the transaction, the general counsel now owns 4,332 shares in the company, valued at approximately $4,431,636. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,716 shares of company stock worth $6,611,245. Company insiders own 0.38% of the company's stock.

ServiceNow Price Performance

NYSE:NOW opened at $1,023.56 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The company has a fifty day moving average price of $985.61 and a 200 day moving average price of $967.23. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The stock has a market cap of $211.86 billion, a P/E ratio of 139.07, a PEG ratio of 4.65 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period last year, the business earned $3.41 earnings per share. ServiceNow's quarterly revenue was up 18.6% compared to the same quarter last year. Analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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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