Cloud Capital Management LLC Acquires New Shares in ServiceNow, Inc. (NYSE:NOW)

Cloud Capital Management LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the first quarter, according to its most recent filing with the SEC. The fund acquired 93 shares of the information technology services provider’s stock, valued at approximately $74,000.

Other hedge funds have also bought and sold shares of the company. Quarry LP purchased a new position in ServiceNow in the 4th quarter valued at approximately $27,000. Atala Financial Inc purchased a new position in ServiceNow in the 4th quarter valued at approximately $28,000. WASHINGTON TRUST Co grew its stake in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 31 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new position in ServiceNow in the 4th quarter valued at approximately $32,000. Finally, Heck Capital Advisors LLC purchased a new position in ServiceNow in the 4th quarter valued at approximately $37,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the sale, the insider directly owned 3,000 shares of the company’s stock, valued at $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Russell S. Elmer sold 62 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the completion of the transaction, the general counsel owned 4,332 shares in the company, valued at $4,431,636. The trade was a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock valued at $6,611,245 over the last three months. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. DA Davidson assumed coverage on shares of ServiceNow in a research note on Wednesday, June 25th. They issued a “buy” rating and a $1,150.00 price objective for the company. Mizuho raised their price target on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, June 12th. Stifel Nicolaus raised their price target on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. FBN Securities raised shares of ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. Finally, Robert W. Baird raised their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,068.23.

ServiceNow Stock Performance

ServiceNow stock opened at $1,046.03 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $216.51 billion, a PE ratio of 142.12, a P/E/G ratio of 4.80 and a beta of 0.94. The firm has a fifty day simple moving average of $1,003.94 and a two-hundred day simple moving average of $962.18. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.41 earnings per share. Research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

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.