5,803 Shares in ServiceNow Inc (NYSE:NOW) Purchased by GSA Capital Partners LLP

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GSA Capital Partners LLP purchased a new position in shares of ServiceNow Inc (NYSE:NOW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,803 shares of the information technology services provider’s stock, valued at approximately $1,593,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its position in ServiceNow by 47.8% in the second quarter. Jennison Associates LLC now owns 4,489,468 shares of the information technology services provider’s stock valued at $1,232,673,000 after purchasing an additional 1,452,900 shares during the period. GQG Partners LLC lifted its position in ServiceNow by 444.8% in the first quarter. GQG Partners LLC now owns 985,385 shares of the information technology services provider’s stock valued at $242,370,000 after purchasing an additional 804,514 shares during the period. Carillon Tower Advisers Inc. lifted its position in ServiceNow by 60.2% in the first quarter. Carillon Tower Advisers Inc. now owns 701,244 shares of the information technology services provider’s stock valued at $172,849,000 after purchasing an additional 263,615 shares during the period. CIBC Private Wealth Group LLC lifted its position in ServiceNow by 4,071.9% in the first quarter. CIBC Private Wealth Group LLC now owns 201,126 shares of the information technology services provider’s stock valued at $49,576,000 after purchasing an additional 196,305 shares during the period. Finally, Eagle Asset Management Inc. lifted its position in ServiceNow by 45.1% in the first quarter. Eagle Asset Management Inc. now owns 579,190 shares of the information technology services provider’s stock valued at $142,764,000 after purchasing an additional 180,026 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ServiceNow stock traded down $1.57 during trading on Friday, hitting $263.07. 2,478,075 shares of the company were exchanged, compared to its average volume of 1,839,143. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.54. ServiceNow Inc has a fifty-two week low of $147.63 and a fifty-two week high of $303.17. The stock has a market capitalization of $49.62 billion, a price-to-earnings ratio of 1,315.35, a P/E/G ratio of 22.68 and a beta of 1.30. The firm has a 50 day moving average price of $278.78 and a 200 day moving average price of $260.31.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. ServiceNow had a return on equity of 4.29% and a net margin of 0.09%. The firm had revenue of $833.90 million during the quarter, compared to the consensus estimate of $831.50 million. During the same period in the previous year, the firm posted $0.49 EPS. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. Analysts predict that ServiceNow Inc will post 0.43 earnings per share for the current year.

In related news, Director Anita M. Sands sold 1,770 shares of ServiceNow stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $268.60, for a total transaction of $475,422.00. Following the completion of the transaction, the director now directly owns 10,784 shares in the company, valued at approximately $2,896,582.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Scarpelli sold 31,183 shares of ServiceNow stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $260.22, for a total value of $8,114,440.26. Following the transaction, the chief financial officer now owns 36,200 shares of the company’s stock, valued at $9,419,964. The disclosure for this sale can be found here. Insiders have sold a total of 117,767 shares of company stock valued at $32,107,343 over the last 90 days. Insiders own 1.00% of the company’s stock.

A number of equities research analysts recently commented on NOW shares. KeyCorp raised their price objective on shares of ServiceNow from $270.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Zacks Investment Research upgraded shares of ServiceNow from a “hold” rating to a “buy” rating and set a $299.00 price objective for the company in a research report on Tuesday, April 30th. Deutsche Bank lifted their price target on shares of ServiceNow from $285.00 to $305.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Canaccord Genuity lifted their price target on shares of ServiceNow from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Cleveland Research began coverage on shares of ServiceNow in a research report on Monday, June 17th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $291.66.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

Further Reading: Balanced Fund

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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