Privium Fund Management UK Ltd Acquires Shares of 55,500 ServiceNow, Inc. $NOW

Privium Fund Management UK Ltd bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, Holdings Channel reports. The firm bought 55,500 shares of the information technology services provider’s stock, valued at approximately $5,548,000. ServiceNow accounts for about 2.3% of Privium Fund Management UK Ltd’s investment portfolio, making the stock its 12th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. Millstone Evans Group LLC lifted its position in ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after buying an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its stake in shares of ServiceNow by 540.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Blueline Advisors LLC acquired a new position in shares of ServiceNow during the fourth quarter worth approximately $25,000. Measured Wealth Private Client Group LLC lifted its position in shares of ServiceNow by 560.0% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Finally, Wealth Watch Advisors INC grew its stake in shares of ServiceNow by 432.3% during the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 134 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 0.1%

Shares of NYSE NOW opened at $124.08 on Monday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73. The stock has a market cap of $128.29 billion, a price-to-earnings ratio of 77.55, a P/E/G ratio of 2.18 and a beta of 0.94. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The company’s fifty day moving average is $107.08 and its 200-day moving average is $105.59.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter last year, the business posted $0.81 EPS. The firm’s revenue was up 24.0% compared to the same quarter last year. Equities research analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BMO Capital Markets lifted their target price on ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Capital One Financial increased their price objective on shares of ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Weiss Ratings cut shares of ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 10th. Citigroup reaffirmed a “market outperform” rating on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $248.00 target price (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.76.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.