ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Stevens Capital Management LP

Stevens Capital Management LP lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 95.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 563 shares of the information technology services provider’s stock after buying an additional 275 shares during the quarter. Stevens Capital Management LP’s holdings in ServiceNow were worth $448,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NOW. Bogart Wealth LLC raised its stake in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow during the 1st quarter worth approximately $26,000. Quarry LP acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $27,000. WASHINGTON TRUST Co raised its stake in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after buying an additional 31 shares during the period. Finally, Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth approximately $37,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jonathan Chadwick sold 770 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $931.62, for a total transaction of $717,347.40. Following the transaction, the director owned 3,205 shares of the company’s stock, valued at approximately $2,985,842.10. This represents a 19.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,003 shares of company stock worth $6,015,106 in the last quarter. Insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $968.05 on Friday. The stock has a market cap of $200.37 billion, a PE ratio of 121.92, a P/E/G ratio of 4.56 and a beta of 0.94. The company has a current ratio of 1.09, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a fifty day simple moving average of $1,000.33 and a 200-day simple moving average of $953.18.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the business posted $3.13 EPS. The company’s revenue was up 22.4% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NOW shares. Evercore ISI boosted their price target on ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Raymond James Financial boosted their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday. Truist Financial upgraded ServiceNow from a “hold” rating to a “buy” rating and boosted their price target for the stock from $950.00 to $1,200.00 in a research report on Thursday, May 1st. JPMorgan Chase & Co. dropped their price target on ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $1,114.87.

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.