Ossiam Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Ossiam boosted its position in ServiceNow, Inc. (NYSE:NOW) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,529 shares of the information technology services provider’s stock after purchasing an additional 335 shares during the period. Ossiam’s holdings in ServiceNow were worth $15,917,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NOW. Sandbox Financial Partners LLC increased its position in ServiceNow by 8.6% during the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after buying an additional 66 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of ServiceNow by 19.8% during the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after purchasing an additional 49,631 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of ServiceNow by 5.9% during the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after purchasing an additional 18,442 shares during the last quarter. Smithfield Trust Co boosted its holdings in shares of ServiceNow by 36.4% during the fourth quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after purchasing an additional 262 shares during the last quarter. Finally, Dohj LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth $913,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $4.35 during midday trading on Friday, hitting $698.81. 1,122,703 shares of the company’s stock were exchanged, compared to its average volume of 1,564,719. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50 day moving average price is $732.59 and its 200-day moving average price is $735.55. The firm has a market cap of $143.26 billion, a P/E ratio of 74.74, a PEG ratio of 4.41 and a beta of 0.96. ServiceNow, Inc. has a twelve month low of $526.11 and a twelve month high of $815.32.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. Equities research analysts anticipate that ServiceNow, Inc. will post 6.5 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other ServiceNow news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul John Smith sold 125 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock worth $3,997,012 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NOW shares. BMO Capital Markets reduced their target price on ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. UBS Group reduced their target price on ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. KeyCorp reduced their target price on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Finally, Wells Fargo & Company boosted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $814.48.

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.