Scge Management L.P. grew its position in shares of ServiceNow Inc (NYSE:NOW) by 11.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 475,000 shares of the information technology services provider’s stock after acquiring an additional 50,000 shares during the quarter. ServiceNow comprises about 8.4% of Scge Management L.P.’s investment portfolio, making the stock its 5th largest holding. Scge Management L.P. owned about 0.27% of ServiceNow worth $81,923,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Peregrine Capital Management LLC boosted its holdings in shares of ServiceNow by 0.3% during the second quarter. Peregrine Capital Management LLC now owns 97,301 shares of the information technology services provider’s stock valued at $16,782,000 after acquiring an additional 284 shares during the period. IHT Wealth Management LLC lifted its holdings in ServiceNow by 66.7% in the first quarter. IHT Wealth Management LLC now owns 750 shares of the information technology services provider’s stock worth $121,000 after purchasing an additional 300 shares during the period. Macguire Cheswick & Tuttle Investment Counsel LLC lifted its holdings in ServiceNow by 4.8% in the second quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 6,505 shares of the information technology services provider’s stock worth $1,122,000 after purchasing an additional 300 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in ServiceNow by 33.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,228 shares of the information technology services provider’s stock worth $212,000 after purchasing an additional 305 shares during the period. Finally, First Republic Investment Management Inc. lifted its holdings in ServiceNow by 3.0% in the first quarter. First Republic Investment Management Inc. now owns 10,824 shares of the information technology services provider’s stock worth $1,791,000 after purchasing an additional 312 shares during the period. 95.80% of the stock is owned by institutional investors.

ServiceNow stock traded up $2.79 during midday trading on Thursday, hitting $205.56. The company’s stock had a trading volume of 15,408 shares, compared to its average volume of 1,696,369. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.72. ServiceNow Inc has a 12 month low of $110.17 and a 12 month high of $203.34. The stock has a market cap of $35.50 billion, a PE ratio of -196.00, a price-to-earnings-growth ratio of 47.36 and a beta of 1.25.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 25th. The information technology services provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. ServiceNow had a negative net margin of 4.16% and a negative return on equity of 7.48%. The firm had revenue of $631.05 million for the quarter, compared to analysts’ expectations of $616.68 million. During the same period in the previous year, the business earned $0.22 earnings per share. ServiceNow’s revenue for the quarter was up 40.8% compared to the same quarter last year. equities analysts predict that ServiceNow Inc will post 0.16 EPS for the current fiscal year.

NOW has been the subject of several research analyst reports. Deutsche Bank upped their price objective on shares of ServiceNow from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $210.00 price objective on shares of ServiceNow in a report on Friday, July 20th. Deutsche Bank upped their price objective on shares of ServiceNow to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. JMP Securities upped their price objective on shares of ServiceNow to $220.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Finally, Morgan Stanley upped their price objective on shares of ServiceNow from $172.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $197.54.

In other ServiceNow news, insider Chirantan Jitendra Desai sold 2,031 shares of the business’s stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $188.83, for a total transaction of $383,513.73. Following the sale, the insider now owns 2,534 shares in the company, valued at approximately $478,495.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO David Schneider sold 10,252 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $181.76, for a total value of $1,863,403.52. Following the sale, the executive now owns 44,376 shares in the company, valued at approximately $8,065,781.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 188,319 shares of company stock worth $34,841,870. 1.60% of the stock is owned by company insiders.

ServiceNow Profile

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. It offers customer and facilities service management, orchestration core, service mapping, cloud and portfolio management, edge encryption, performance analytics, service portal designer, visual task boards, and configuration management database.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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