Sivia Capital Partners LLC Boosts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

by · The Markets Daily

Sivia Capital Partners LLC raised its stake in ServiceNow, Inc. (NYSE:NOW – Free Report) by 20.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 474 shares of the information technology services provider’s stock after purchasing an additional 82 shares during the quarter. Sivia Capital Partners LLC’s holdings in ServiceNow were worth $424,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after acquiring an additional 331,797 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in ServiceNow by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after buying an additional 34,855 shares during the period. Swedbank AB boosted its position in ServiceNow by 10.3% during the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after acquiring an additional 120,983 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of ServiceNow by 21.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 954,045 shares of the information technology services provider’s stock worth $750,513,000 after acquiring an additional 168,734 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of ServiceNow by 1.8% in the 2nd quarter. Clearbridge Investments LLC now owns 677,942 shares of the information technology services provider’s stock worth $533,316,000 after acquiring an additional 11,979 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now owns 3,779 shares in the company, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Up 0.1 %

ServiceNow stock traded up $1.19 during mid-day trading on Monday, reaching $939.78. 212,637 shares of the company were exchanged, compared to its average volume of 1,274,870. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $192.65 billion, a P/E ratio of 100.38, a PEG ratio of 5.63 and a beta of 0.99. The business has a fifty day moving average of $861.16 and a 200 day moving average of $786.43. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $949.00.

ServiceNow (NYSE:NOW – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 earnings per share. Research analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on NOW. TD Cowen upped their price target on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Citigroup increased their price target on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Guggenheim reissued a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. Royal Bank of Canada raised their target price on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets boosted their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $880.04.

Read Our Latest Stock Analysis on ServiceNow

ServiceNow Profile

(Free Report)

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.

See Also

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