ServiceNow, Inc. $NOW Shares Bought by ZEGA Investments LLC

ZEGA Investments LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 157.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 622 shares of the information technology services provider’s stock after buying an additional 380 shares during the quarter. ZEGA Investments LLC’s holdings in ServiceNow were worth $495,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Janus Henderson Group PLC lifted its stake in shares of ServiceNow by 1.5% in the fourth 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 in the last quarter. Parr Mcknight Wealth Management Group LLC acquired a new position in shares of ServiceNow in the first quarter worth about $1,820,000. Corient IA LLC acquired a new position in shares of ServiceNow in the first quarter worth about $796,000. ASR Vermogensbeheer N.V. acquired a new position in shares of ServiceNow in the first quarter worth about $19,278,000. Finally, Nicholas Investment Partners LP lifted its stake in shares of ServiceNow by 223.5% in the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider’s stock worth $2,974,000 after acquiring an additional 1,938 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on NOW. Barclays set a $1,210.00 price target on ServiceNow in a research note on Thursday, July 24th. FBN Securities raised shares of ServiceNow to a “strong-buy” rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. dropped their target price on shares of ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Mizuho boosted their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. Finally, Stifel Nicolaus boosted their target price on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $1,115.20.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 428 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the completion of the transaction, the director directly owned 10,891 shares of the company’s stock, valued at $11,039,226.51. The trade was a 3.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $860.00, for a total transaction of $258,000.00. Following the transaction, the director directly owned 9,886 shares of the company’s stock, valued at $8,501,960. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,038 shares of company stock worth $5,971,973 over the last three months. Insiders own 0.38% of the company’s stock.

ServiceNow Trading Up 2.7%

ServiceNow stock opened at $890.73 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $964.30 and a two-hundred day moving average price of $932.15. The firm has a market capitalization of $185.27 billion, a price-to-earnings ratio of 112.18, a PEG ratio of 3.91 and a beta of 0.93. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. ServiceNow’s revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.13 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.