Andar Capital Management HK Ltd Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

Andar Capital Management HK Ltd boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 35.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,400 shares of the information technology services provider’s stock after acquiring an additional 1,400 shares during the period. ServiceNow accounts for approximately 5.9% of Andar Capital Management HK Ltd’s holdings, making the stock its 9th biggest holding. Andar Capital Management HK Ltd’s holdings in ServiceNow were worth $4,248,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Wealth Alliance boosted its holdings in ServiceNow by 6.9% in the second quarter. Wealth Alliance now owns 949 shares of the information technology services provider’s stock valued at $747,000 after acquiring an additional 61 shares in the last quarter. Bradley Foster & Sargent Inc. CT purchased a new position in ServiceNow during the second quarter valued at $256,000. Connors Investor Services Inc. purchased a new position in ServiceNow during the second quarter valued at $13,100,000. Clearstead Trust LLC lifted its position in ServiceNow by 0.8% during the second quarter. Clearstead Trust LLC now owns 4,705 shares of the information technology services provider’s stock valued at $3,701,000 after buying an additional 37 shares during the period. Finally, Sargent Investment Group LLC purchased a new position in ServiceNow during the second quarter valued at $205,000. Institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

NOW has been the subject of several recent research reports. Guggenheim reissued a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. Royal Bank of Canada raised their price objective on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Robert W. Baird raised their price objective on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. TD Cowen raised their price objective on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Citigroup lifted their price target on ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Trading Down 0.6 %

ServiceNow stock opened at $886.77 on Wednesday. The business has a 50-day simple moving average of $812.61 and a two-hundred day simple moving average of $768.20. The company has a market cap of $181.79 billion, a P/E ratio of 94.84, a P/E/G ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $899.61. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 EPS. Analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the transaction, the insider now owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 in the last three months. 0.25% of the stock is currently owned by company insiders.

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.