Sage Mountain Advisors LLC Buys 126 Shares of ServiceNow, Inc. $NOW

Sage Mountain Advisors LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 9.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,448 shares of the information technology services provider’s stock after purchasing an additional 126 shares during the quarter. Sage Mountain Advisors LLC’s holdings in ServiceNow were worth $1,489,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. bought a new stake in ServiceNow during the 2nd quarter valued at approximately $30,000. LGT Financial Advisors LLC bought a new stake in ServiceNow during the 2nd quarter valued at approximately $32,000. Bogart Wealth LLC boosted its stake in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new stake in ServiceNow during the 1st quarter valued at approximately $26,000. Finally, Richardson Financial Services Inc. boosted its stake in ServiceNow by 50.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 11 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at approximately $10,594,950.60. This represents a 12.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. The trade was a 46.83% 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 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NOW. Wells Fargo & Company increased their target price on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Needham & Company LLC upped their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Citigroup upped their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 price target on shares of ServiceNow in a report on Thursday, July 24th. Finally, Bank of America upped their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $1,124.17.

ServiceNow Trading Down 1.0%

Shares of NOW opened at $929.77 on Friday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $917.85 and a 200-day simple moving average of $940.95. The stock has a market cap of $193.39 billion, a PE ratio of 117.10, a PEG ratio of 4.23 and a beta of 0.92.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (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 business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the firm posted $3.13 EPS. ServiceNow’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.