Jag Capital Management LLC Has $13.17 Million Stake in ServiceNow, Inc. $NOW

Jag Capital Management LLC raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,808 shares of the information technology services provider’s stock after purchasing an additional 137 shares during the period. ServiceNow accounts for 1.5% of Jag Capital Management LLC’s portfolio, making the stock its 25th largest holding. Jag Capital Management LLC’s holdings in ServiceNow were worth $13,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Wealth Preservation Advisors LLC bought a new position in ServiceNow in the 1st quarter worth $382,000. Corient IA LLC acquired a new stake in shares of ServiceNow in the first quarter valued at about $796,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of ServiceNow in the first quarter valued at about $1,820,000. ASR Vermogensbeheer N.V. bought a new position in shares of ServiceNow in the first quarter worth about $19,278,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of ServiceNow by 131.4% during the 1st 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 last quarter. Institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several recent analyst reports. Piper Sandler lifted 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. Needham & Company LLC boosted their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Oppenheimer reiterated an “outperform” rating and set a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Guggenheim restated a “sell” rating and issued a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ServiceNow in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,122.20.

ServiceNow Stock Up 3.9%

NYSE NOW opened at $923.44 on Tuesday. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a market capitalization of $192.07 billion, a price-to-earnings ratio of 116.30, a PEG ratio of 4.00 and a beta of 0.92. The stock’s 50 day moving average is $909.24 and its two-hundred day moving average is $933.88. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the company posted $3.13 earnings per share. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. Equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the transaction, the general counsel directly owned 4,332 shares of the company’s stock, valued at $3,830,614.32. The trade was a 28.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the transaction, the insider owned 457 shares of the company’s stock, valued at approximately $409,037.85. The trade was a 76.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,737 shares of company stock valued at $16,798,825. Insiders own 0.38% of the company’s stock.

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.