Sivia Capital Partners LLC Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Sivia Capital Partners LLC lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 70.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 803 shares of the information technology services provider's stock after buying an additional 331 shares during the period. Sivia Capital Partners LLC's holdings in ServiceNow were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in ServiceNow by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after purchasing an additional 190,430 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. FMR LLC lifted its position in ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after purchasing an additional 272,506 shares in the last quarter. Geode Capital Management LLC lifted its position in ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after purchasing an additional 100,670 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after purchasing an additional 2,686,291 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Up 1.3%

Shares of NOW stock opened at $1,030.70 on Friday. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock's 50-day moving average price is $919.44 and its 200-day moving average price is $974.63. The stock has a market capitalization of $213.34 billion, a price-to-earnings ratio of 150.91, a price-to-earnings-growth ratio of 4.51 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the firm posted $3.41 earnings per share. The business's revenue was up 18.6% compared to the same quarter last year. Equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 62 shares of the business's stock in a transaction that occurred on 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 sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the business's 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 value 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. The trade was a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock valued at $6,611,245 over the last ninety days. 0.38% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Guggenheim lifted their target price on ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research report on Thursday, April 24th. Redburn Atlantic assumed coverage on ServiceNow in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. William Blair reiterated an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. UBS Group reiterated a "buy" rating and set a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Barclays set a $1,085.00 price objective on ServiceNow in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and an average price target of $1,062.50.

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.

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