ServiceNow, Inc. (NYSE:NOW) is Ithaka Group LLC’s 4th Largest Position

Ithaka Group LLC lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,471 shares of the information technology services provider’s stock after selling 2,130 shares during the quarter. ServiceNow comprises about 6.7% of Ithaka Group LLC’s holdings, making the stock its 4th largest holding. Ithaka Group LLC’s holdings in ServiceNow were worth $33,017,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Edgemoor Investment Advisors Inc. lifted its position in shares of ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after acquiring an additional 11 shares in the last quarter. Integrated Investment Consultants LLC raised its stake in ServiceNow by 2.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after purchasing an additional 11 shares during the period. one8zero8 LLC lifted its holdings in shares of ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after purchasing an additional 11 shares in the last quarter. Capital Investment Advisory Services LLC boosted its position in shares of ServiceNow by 2.1% in the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider’s stock worth $459,000 after buying an additional 12 shares during the period. Finally, Argent Trust Co grew its holdings in shares of ServiceNow by 0.4% during the first quarter. Argent Trust Co now owns 3,363 shares of the information technology services provider’s stock valued at $2,677,000 after buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NOW. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Monday. Citigroup upped their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Wall Street Zen raised ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, July 29th. Finally, Piper Sandler upped their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,115.20.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 239 shares of ServiceNow stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total value of $250,950.00. Following the transaction, the director owned 10,404 shares in the company, valued at $10,924,200. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 145 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $147,900.00. Following the completion of the transaction, the insider directly owned 3,027 shares of the company’s stock, valued at $3,087,540. This trade represents a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,990 shares of company stock worth $6,047,567 over the last quarter. 0.38% of the stock is currently owned by company insiders.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $922.02 on Tuesday. The firm has a 50 day moving average of $993.22 and a 200-day moving average of $948.24. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $191.78 billion, a PE ratio of 116.12, a PEG ratio of 4.12 and a beta of 0.93.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company’s revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.13 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.