ServiceNow, Inc. (NYSE:NOW) Shares Bought by Interchange Capital Partners LLC

Interchange Capital Partners LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 138.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 810 shares of the information technology services provider’s stock after purchasing an additional 471 shares during the quarter. Interchange Capital Partners LLC’s holdings in ServiceNow were worth $637,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NOW. Creekmur Asset Management LLC purchased a new stake in ServiceNow in the 1st quarter valued at $25,000. Versant Capital Management Inc grew its holdings in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow during the fourth quarter worth about $29,000. EntryPoint Capital LLC raised its stake in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in ServiceNow in the 2nd quarter valued at about $32,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at $11,124,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the transaction, the insider now owns 15,892 shares in the company, valued at approximately $11,124,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,129 shares of company stock worth $5,759,436. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NOW traded up $23.73 on Friday, reaching $855.00. The company had a trading volume of 1,920,980 shares, compared to its average volume of 957,899. 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, Inc. has a 1 year low of $527.24 and a 1 year high of $857.25. The stock has a market capitalization of $176.13 billion, a PE ratio of 91.44, a P/E/G ratio of 5.13 and a beta of 0.99. The stock has a 50-day moving average price of $791.80 and a 200-day moving average price of $760.54.

ServiceNow (NYSE:NOW) last announced its 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 firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. As a group, research analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets lifted their target price on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. KeyCorp lowered their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Citigroup boosted their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 target price on shares of ServiceNow in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $849.62.

About ServiceNow

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.