Teramo Advisors LLC Buys New Holdings in ServiceNow, Inc. (NYSE:NOW)

Teramo Advisors LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 261 shares of the information technology services provider's stock, valued at approximately $208,000. ServiceNow accounts for approximately 0.1% of Teramo Advisors LLC's investment portfolio, making the stock its 16th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Quarry LP acquired a new stake in ServiceNow during the fourth quarter worth approximately $27,000. Bogart Wealth LLC boosted its holdings in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new stake in ServiceNow in the 1st quarter valued at about $26,000. Heck Capital Advisors LLC bought a new stake in ServiceNow in the 4th quarter valued at about $37,000. Finally, WASHINGTON TRUST Co boosted 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 purchasing an additional 31 shares during the period. Institutional investors own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In related 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 transaction of $433,825.08. Following the sale, the director owned 10,891 shares in the company, valued at $11,039,226.51. This represents a 3.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction dated Friday, May 30th. The shares were 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 owned 6,614 shares in the company, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,003 shares of company stock worth $6,015,106. Company insiders own 0.38% of the company's stock.

ServiceNow Trading Down 2.8%

Shares of NYSE NOW traded down $28.13 during midday trading on Friday, reaching $968.05. The stock had a trading volume of 1,998,443 shares, compared to its average volume of 1,429,436. The firm has a market cap of $200.37 billion, a price-to-earnings ratio of 121.92, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.09. The company's 50 day moving average price is $1,000.33 and its 200 day moving average price is $952.52.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays raised their target price on shares of ServiceNow from $1,085.00 to $1,200.00 and gave the company an "overweight" rating in a report on Monday, July 21st. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Tuesday. DA Davidson raised their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a report on Thursday. Bank of America raised their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday. Finally, Piper Sandler raised their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,114.87.

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.