ServiceNow, Inc. (NYSE:NOW) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 26.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,761 shares of the information technology services provider’s stock after buying an additional 366 shares during the quarter. GAMMA Investing LLC’s holdings in ServiceNow were worth $1,385,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Davis Capital Management bought a new stake in shares of ServiceNow during the second quarter valued at about $55,000. Transcend Capital Advisors LLC bought a new stake in shares of ServiceNow during the second quarter valued at about $1,645,000. Capital Market Strategies LLC raised its stake in shares of ServiceNow by 4.2% during the second quarter. Capital Market Strategies LLC now owns 1,036 shares of the information technology services provider’s stock valued at $815,000 after purchasing an additional 42 shares in the last quarter. Bright Futures Wealth Management LLC. bought a new stake in ServiceNow in the first quarter worth about $523,000. Finally, EverSource Wealth Advisors LLC raised its position in ServiceNow by 6.5% in the first quarter. EverSource Wealth Advisors LLC now owns 770 shares of the information technology services provider’s stock worth $534,000 after acquiring an additional 47 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 125 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 125 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was 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 directly owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederic B. Luddy sold 598 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $741.92, for a total value of $443,668.16. Following the completion of the sale, the director now directly owns 428 shares of the company’s stock, valued at $317,541.76. The disclosure for this sale can be found here. Insiders sold a total of 7,330 shares of company stock valued at $5,482,012 over the last ninety days. 0.25% of the stock is currently owned by insiders.

ServiceNow Trading Down 2.6 %

Shares of ServiceNow stock traded down $20.74 on Friday, hitting $790.64. 1,568,867 shares of the company’s stock traded hands, compared to its average volume of 1,722,103. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $850.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a fifty day moving average of $747.96 and a two-hundred day moving average of $754.19. The company has a market capitalization of $162.87 billion, a price-to-earnings ratio of 84.56, a price-to-earnings-growth ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share. As a group, sell-side analysts expect that ServiceNow, Inc. will post 6.84 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. KeyCorp cut their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. JMP Securities upped their target price on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. Guggenheim reiterated a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a report on Monday, July 8th. BMO Capital Markets increased their price objective on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, TD Cowen upped their target price on ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $842.22.

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.