ServiceNow, Inc. $NOW Stock Holdings Increased by Siren L.L.C.

Key Points

• Siren L.L.C. increased its position in ServiceNow, Inc. by 62.8% during the first quarter, owning 9,126 shares valued at about $7.27 million.
• ServiceNow reported $4.09 earnings per share for the last quarter, surpassing estimates and demonstrating revenue growth of 22.4% year-over-year.
• Analysts' consensus rating for ServiceNow is a "Moderate Buy", with an average price target of $1,115.20, indicating a positive outlook for the stock.

Siren L.L.C. boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 62.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,126 shares of the information technology services provider's stock after acquiring an additional 3,521 shares during the quarter. Siren L.L.C.'s holdings in ServiceNow were worth $7,266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NOW. Bogart Wealth LLC increased its position in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after buying an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new stake in ServiceNow in the 1st quarter valued at $26,000. Quarry LP purchased a new stake in ServiceNow in the 4th quarter valued at $27,000. WASHINGTON TRUST Co grew its holdings in ServiceNow by 620.0% in 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. acquired a new position in shares of ServiceNow in the 1st quarter valued at $33,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NOW shares. JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. Scotiabank set a $1,100.00 price target on ServiceNow and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Bank of America increased their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada raised their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

Insider Activity

In other ServiceNow news, CEO William R. Mcdermott sold 1,585 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $900.00, for a total transaction of $1,426,500.00. Following the completion of the sale, the chief executive officer owned 12,439 shares of the company's stock, valued at approximately $11,195,100. The trade was a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the sale, the chief financial officer directly owned 12,228 shares of the company's stock, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,302 shares of company stock valued at $10,956,796 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

ServiceNow Price Performance

ServiceNow stock traded down $10.12 during mid-day trading on Friday, hitting $918.49. 1,881,767 shares of the company were exchanged, compared to its average volume of 1,914,586. The company has a market capitalization of $191.04 billion, a P/E ratio of 115.68, a PEG ratio of 4.14 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The business's 50 day simple moving average is $945.88 and its two-hundred day simple moving average is $925.54.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The business's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.13 earnings per share. Analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal 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.