Sivia Capital Partners LLC Has $861,000 Stake in ServiceNow, Inc. $NOW

Sivia Capital Partners LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 4.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 837 shares of the information technology services provider’s stock after buying an additional 34 shares during the period. Sivia Capital Partners LLC’s holdings in ServiceNow were worth $861,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the period. Nuveen LLC acquired a new stake in shares of ServiceNow during the first quarter worth about $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of ServiceNow by 1,586.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock worth $742,965,000 after purchasing an additional 877,875 shares during the period. Goldman Sachs Group Inc. raised its position in shares of ServiceNow by 131.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after purchasing an additional 840,731 shares during the period. Finally, Parnassus Investments LLC acquired a new stake in shares of ServiceNow during the first quarter worth about $519,806,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NOW shares. Piper Sandler raised their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Wall Street Zen lowered ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a report on Wednesday, July 23rd. Oppenheimer reiterated an “outperform” rating and set a $1,150.00 price objective (up from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Finally, Bank of America increased their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $1,115.20.

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 1,762 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer owned 12,228 shares of the company’s stock, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This trade represents a 46.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,976 shares of company stock worth $17,049,775 in the last three months. Insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $932.28 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The stock has a market capitalization of $193.91 billion, a PE ratio of 117.42, a P/E/G ratio of 4.27 and a beta of 0.91. The business has a fifty day moving average price of $923.80 and a two-hundred day moving average price of $922.54.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.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 previous year, the firm earned $3.13 EPS. ServiceNow’s revenue was up 22.4% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

About ServiceNow

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.