200 Shares in ServiceNow, Inc. $NOW Acquired by Lodestar Private Asset Management LLC

Lodestar Private Asset Management LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 200 shares of the information technology services provider’s stock, valued at approximately $206,000.

A number of other hedge funds also recently added to or reduced their stakes in NOW. Brighton Jones LLC raised its holdings in ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after acquiring an additional 30 shares during the last quarter. GAMMA Investing LLC raised its stake in ServiceNow by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider’s stock valued at $2,689,000 after buying an additional 308 shares during the last quarter. NorthCrest Asset Manangement LLC raised its stake in ServiceNow by 13.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 1,570 shares of the information technology services provider’s stock valued at $1,251,000 after buying an additional 187 shares during the last quarter. Stock Yards Bank & Trust Co. raised its stake in ServiceNow by 79.7% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 496 shares of the information technology services provider’s stock valued at $395,000 after buying an additional 220 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at $124,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NOW shares. Jefferies Financial Group upped their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a report on Wednesday, October 8th. Raymond James Financial increased their price target 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. Wall Street Zen downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Needham & Company LLC increased their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,122.20.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This represents a 46.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,737 shares of company stock worth $16,798,825 over the last three months. 0.38% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

ServiceNow stock opened at $888.63 on Monday. 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 1-year low of $678.66 and a 1-year high of $1,198.09. The firm has a market capitalization of $184.84 billion, a P/E ratio of 111.92, a price-to-earnings-growth ratio of 4.00 and a beta of 0.92. The company’s 50-day moving average is $909.21 and its 200 day moving average is $932.99.

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