Silicon Valley Capital Partners Purchases 4,905 Shares of ServiceNow, Inc. $NOW

Key Points

• Silicon Valley Capital Partners increased its stake in ServiceNow, Inc. by 51.6%, owning 14,412 shares valued at approximately $11.5 million.
• Other institutional investors have also increased their positions, with notable boosts including WASHINGTON TRUST Co by 620% and Bogart Wealth LLC by 113.3%.
• ServiceNow's recent earnings report showed an EPS of $4.09, exceeding analysts' expectations, with a revenue increase of 22.4% compared to the same quarter last year.

Silicon Valley Capital Partners raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 51.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,412 shares of the information technology services provider's stock after purchasing an additional 4,905 shares during the period. ServiceNow makes up about 1.5% of Silicon Valley Capital Partners' investment portfolio, making the stock its 21st largest holding. Silicon Valley Capital Partners' holdings in ServiceNow were worth $11,498,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Haverford Trust Co boosted its stake in shares of ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock worth $936,000 after buying an additional 10 shares during the last quarter. Ascent Group LLC boosted its stake in shares of ServiceNow by 0.5% in the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock worth $1,628,000 after buying an additional 10 shares during the last quarter. Edgemoor Investment Advisors Inc. boosted its stake in shares of ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $366,000 after buying an additional 11 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of ServiceNow by 2.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock worth $358,000 after buying an additional 11 shares during the last quarter. Finally, one8zero8 LLC boosted its stake in shares of ServiceNow by 3.2% in the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock worth $283,000 after buying an additional 11 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares of the company's stock, valued at $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Fipps sold 1,452 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the sale, the insider directly owned 457 shares in the company, valued at approximately $409,037.85. This represents a 76.06% 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. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

ServiceNow stock traded down $8.24 during trading on Friday, reaching $930.04. The company had a trading volume of 711,066 shares, compared to its average volume of 1,580,307. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm's 50-day simple moving average is $927.34 and its 200 day simple moving average is $922.46. The firm has a market capitalization of $193.45 billion, a price-to-earnings ratio of 117.13, a price-to-earnings-growth ratio of 4.23 and a beta of 0.91. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business's quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the firm earned $3.13 earnings per share. Sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald restated an "overweight" rating and issued a $1,200.00 price target on shares of ServiceNow in a research note on Thursday, July 24th. Wall Street Zen downgraded ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Guggenheim restated a "sell" rating and issued a $724.00 price target on shares of ServiceNow in a research note on Thursday, July 17th. UBS Group decreased their target price on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Finally, Morgan Stanley reaffirmed an "equal weight" rating on shares of ServiceNow in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

About ServiceNow

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.