Sivia Capital Partners LLC Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

Sivia Capital Partners LLC increased its stake in ServiceNow, Inc. (NYSE:NOW) by 5.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 363 shares of the information technology services provider’s stock after acquiring an additional 18 shares during the quarter. Sivia Capital Partners LLC’s holdings in ServiceNow were worth $277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow during the fourth quarter worth $29,000. AdvisorNet Financial Inc grew its holdings in shares of ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after buying an additional 32 shares in the last quarter. Sachetta LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth $35,000. Disciplined Equity Management Inc. purchased a new stake in shares of ServiceNow during the fourth quarter worth $35,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NOW shares. KeyCorp dropped their target price on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. BMO Capital Markets dropped their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a report on Tuesday, June 18th. Finally, Wolfe Research reissued an “outperform” rating and issued a $830.00 price objective on shares of ServiceNow in a report on Friday, May 10th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $813.28.

Insider Buying and Selling

In related news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the sale, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total transaction of $1,381,980.00. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at $2,521,422.51. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,530 shares of company stock worth $3,997,012. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 0.8 %

Shares of NOW traded down $6.57 during mid-day trading on Wednesday, hitting $787.54. 222,466 shares of the company’s stock were exchanged, compared to its average volume of 1,272,193. The company has a market cap of $161.45 billion, a price-to-earnings ratio of 84.73, a P/E/G ratio of 4.93 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day moving average is $728.95 and its 200-day moving average is $742.68.

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. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

ServiceNow 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.