Point72 Hong Kong Ltd lifted its holdings in ServiceNow Inc (NYSE:NOW) by 190.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,871 shares of the information technology services provider’s stock after buying an additional 3,196 shares during the quarter. ServiceNow makes up about 0.4% of Point72 Hong Kong Ltd’s portfolio, making the stock its 27th biggest position. Point72 Hong Kong Ltd’s holdings in ServiceNow were worth $1,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. San Francisco Sentry Investment Group CA raised its holdings in shares of ServiceNow by 650.0% in the second quarter. San Francisco Sentry Investment Group CA now owns 105 shares of the information technology services provider’s stock worth $29,000 after buying an additional 91 shares during the period. Motco bought a new position in ServiceNow in the second quarter worth approximately $33,000. Mizuho Securities Co. Ltd. bought a new position in ServiceNow in the second quarter worth approximately $52,000. Next Capital Management LLC grew its stake in ServiceNow by 90.8% in the second quarter. Next Capital Management LLC now owns 229 shares of the information technology services provider’s stock worth $63,000 after purchasing an additional 109 shares in the last quarter. Finally, Capital Investment Advisory Services LLC grew its stake in ServiceNow by 1,431.3% in the second quarter. Capital Investment Advisory Services LLC now owns 245 shares of the information technology services provider’s stock worth $72,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.

Several research analysts recently issued reports on the company. Credit Suisse Group increased their price objective on ServiceNow from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JMP Securities increased their price objective on ServiceNow to $325.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. BMO Capital Markets reissued an “outperform” rating and issued a $315.00 price objective (up previously from $295.00) on shares of ServiceNow in a research note on Thursday, July 25th. Cleveland Research assumed coverage on ServiceNow in a research note on Monday, June 17th. They issued a “buy” rating on the stock. Finally, William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $292.34.

Shares of ServiceNow stock traded up $2.43 during trading on Friday, reaching $271.17. The company’s stock had a trading volume of 1,457,184 shares, compared to its average volume of 1,541,653. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.54. The company has a market cap of $49.85 billion, a price-to-earnings ratio of 1,355.85, a P/E/G ratio of 22.61 and a beta of 1.34. ServiceNow Inc has a 1-year low of $147.63 and a 1-year high of $303.17. The company has a 50-day simple moving average of $261.45 and a two-hundred day simple moving average of $264.04.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. The firm had revenue of $833.90 million during the quarter, compared to analysts’ expectations of $831.50 million. ServiceNow had a return on equity of 4.29% and a net margin of 0.09%. The business’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. As a group, analysts anticipate that ServiceNow Inc will post 0.42 earnings per share for the current year.

In other news, CFO Michael Scarpelli sold 31,183 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $260.22, for a total value of $8,114,440.26. Following the completion of the sale, the chief financial officer now owns 36,200 shares of the company’s stock, valued at approximately $9,419,964. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 22,000 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $291.33, for a total value of $6,409,260.00. Following the completion of the sale, the director now directly owns 2,983 shares of the company’s stock, valued at approximately $869,037.39. The disclosure for this sale can be found here. Insiders sold a total of 91,598 shares of company stock valued at $24,749,747 in the last three months. Insiders own 1.00% of the company’s stock.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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