ServiceNow, Inc. $NOW Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS raised its position in ServiceNow, Inc. (NYSE:NOW) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,870 shares of the information technology services provider’s stock after purchasing an additional 213 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in ServiceNow were worth $3,979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in ServiceNow by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock valued at $15,522,335,000 after purchasing an additional 297,734 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in ServiceNow by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock valued at $2,263,519,000 after purchasing an additional 188,292 shares during the last quarter. Nuveen LLC acquired a new position in ServiceNow in the 1st quarter valued at about $1,817,535,000. Alliancebernstein L.P. boosted its holdings in ServiceNow by 16.2% in the 1st quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock valued at $1,379,461,000 after purchasing an additional 242,132 shares during the last quarter. Finally, Amundi boosted its holdings in ServiceNow by 61.9% in the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after purchasing an additional 626,623 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the sale, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. This represents a 28.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 1,097 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the sale, the director owned 9,307 shares in the company, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock worth $16,798,825 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

NYSE:NOW opened at $929.77 on Friday. The stock has a market capitalization of $193.39 billion, a P/E ratio of 117.10, a PEG ratio of 4.19 and a beta of 0.92. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. 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 50 day moving average price of $917.85 and a 200 day moving average price of $942.45.

ServiceNow (NYSE:NOW) last released its 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 company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.13 EPS. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Citigroup boosted their target price on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Raymond James Financial boosted their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Bank of America increased their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Jefferies Financial Group increased their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Guggenheim reaffirmed a “sell” rating and set a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,124.17.

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.