Symmetry Partners LLC Purchases New Position in ServiceNow, Inc. $NOW

Symmetry Partners LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 210 shares of the information technology services provider’s stock, valued at approximately $216,000.

Other hedge funds also recently modified their holdings of the company. Nuveen LLC acquired a new stake in ServiceNow during 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 first 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 buying an additional 877,875 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of ServiceNow by 131.4% in the first 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 buying an additional 840,731 shares during the last quarter. Parnassus Investments LLC acquired a new position in ServiceNow during the 1st quarter worth about $519,806,000. Finally, Amundi grew its holdings in ServiceNow by 61.9% during the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock worth $1,269,777,000 after acquiring an additional 626,623 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Mizuho upped their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, June 12th. Piper Sandler boosted their target price 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. BMO Capital Markets upped their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, Wall Street Zen downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,122.20.

ServiceNow Stock Up 2.0%

ServiceNow stock opened at $936.76 on Friday. The company has a 50 day moving average of $919.74 and a 200-day moving average of $926.99. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a market capitalization of $194.85 billion, a PE ratio of 117.98, a price-to-earnings-growth ratio of 4.22 and a beta of 0.91.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion during 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 company’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.13 EPS. On average, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 12,228 shares of the company’s stock, valued at $10,594,950.60. The trade was a 12.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 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 $1,489,427.55. Following the transaction, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,976 shares of company stock valued at $17,049,775. 0.38% of the stock is owned by insiders.

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.