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

GAMMA Investing LLC raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 26.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,761 shares of the information technology services provider’s stock after acquiring an additional 366 shares during the period. GAMMA Investing LLC’s holdings in ServiceNow were worth $1,385,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Argonautica Private Wealth Management Inc. grew its stake in shares of ServiceNow by 1.0% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after buying an additional 13 shares during the period. Oliver Lagore Vanvalin Investment Group grew its stake in shares of ServiceNow by 30.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 14 shares during the period. Optas LLC grew its stake in shares of ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after buying an additional 14 shares during the period. Cedar Wealth Management LLC grew its stake in shares of ServiceNow by 5.5% in the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after buying an additional 14 shares during the period. Finally, Forbes J M & Co. LLP grew its stake in shares of ServiceNow by 0.3% in the 1st quarter. Forbes J M & Co. LLP now owns 5,293 shares of the information technology services provider’s stock valued at $4,035,000 after buying an additional 15 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction 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 approximately $11,124,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other ServiceNow news, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Bedi sold 215 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The disclosure for this sale can be found here. Insiders have sold 7,330 shares of company stock worth $5,482,012 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Down 2.6 %

Shares of NOW traded down $20.74 during midday trading on Friday, reaching $790.64. The stock had a trading volume of 1,568,867 shares, compared to its average volume of 1,722,103. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $850.33. The company’s fifty day simple moving average is $747.96 and its two-hundred day simple moving average is $754.19. The company has a market cap of $162.87 billion, a price-to-earnings ratio of 84.56, a PEG ratio of 4.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NOW shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Stifel Nicolaus increased their price objective on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. TD Cowen increased their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Piper Sandler increased their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $830.00 price objective on shares of ServiceNow in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target 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.