1,000 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Corient IA LLC

Corient IA LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,000 shares of the information technology services provider’s stock, valued at approximately $796,000.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in ServiceNow by 87,501.3% in the 1st 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 acquiring an additional 2,686,291 shares in the last quarter. Nuveen LLC bought a new position in shares of ServiceNow in the 1st quarter valued at $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of ServiceNow by 1,586.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock valued at $742,965,000 after purchasing an additional 877,875 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after purchasing an additional 840,731 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of ServiceNow by 6.8% in the 4th 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 during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Gina Mastantuono sold 292 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $878.39, for a total transaction of $256,489.88. Following the sale, the chief financial officer owned 11,551 shares in the company, valued at approximately $10,146,282.89. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lawrence Jackson sold 757 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $990.50, for a total transaction of $749,808.50. Following the sale, the director owned 588 shares in the company, valued at approximately $582,414. This represents a 56.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,738 shares of company stock valued at $5,713,973. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NOW shares. Royal Bank Of Canada lifted their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Erste Group Bank reaffirmed a “hold” rating on shares of ServiceNow in a report on Wednesday, July 23rd. Barclays set a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. UBS Group dropped their price objective on shares of ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, July 24th. Finally, Bank of America raised their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,115.20.

ServiceNow Price Performance

NYSE NOW opened at $866.89 on Friday. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The firm’s 50 day moving average price is $967.03 and its 200-day moving average price is $933.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $180.31 billion, a PE ratio of 109.18, a P/E/G ratio of 3.91 and a beta of 0.93.

ServiceNow (NYSE:NOW) last posted its 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. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the prior year, the company posted $3.13 earnings per share. ServiceNow’s revenue for the quarter was up 22.4% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS 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.