Interval Partners LP Buys Shares of 2,166 ServiceNow, Inc. (NYSE:NOW)

Interval Partners LP acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,166 shares of the information technology services provider’s stock, valued at approximately $2,296,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Investment Management Corp of Ontario boosted its stake in ServiceNow by 25.1% during the 4th quarter. Investment Management Corp of Ontario now owns 11,189 shares of the information technology services provider’s stock worth $11,862,000 after acquiring an additional 2,242 shares during the last quarter. Janus Henderson Group PLC boosted its stake in ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock worth $874,258,000 after acquiring an additional 12,533 shares during the last quarter. Kaizen Financial Strategies bought a new position in ServiceNow during the 4th quarter worth approximately $215,000. Guardian Wealth Advisors LLC NC bought a new position in ServiceNow during the 4th quarter worth approximately $279,000. Finally, Focus Partners Wealth boosted its stake in ServiceNow by 139.4% during the 4th quarter. Focus Partners Wealth now owns 125,127 shares of the information technology services provider’s stock worth $135,358,000 after acquiring an additional 72,860 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, Director Larry Quinlan sold 415 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $1,010.46, for a total value of $419,340.90. Following the completion of the transaction, the director now owns 1,322 shares of the company’s stock, valued at $1,335,828.12. This represents a 23.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 257 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total value of $253,145.00. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,981,595. This represents a 7.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,259 shares of company stock valued at $14,624,279. 0.38% of the stock is currently owned by insiders.

ServiceNow Trading Up 0.7%

NOW opened at $981.13 on Monday. The stock has a market capitalization of $203.09 billion, a price-to-earnings ratio of 143.65, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a 50-day simple moving average of $844.85 and a 200 day simple moving average of $970.58.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.41 earnings per share. Analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has initiated a stock buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

NOW has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $1,048.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. JMP Securities restated a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a report on Tuesday, May 6th. Erste Group Bank upgraded shares of ServiceNow from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 30th. William Blair restated an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Finally, TD Securities restated a “buy” rating and set a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,055.83.

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.