WPG Advisers LLC Makes New Investment in ServiceNow, Inc. $NOW

WPG Advisers LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 111 shares of the information technology services provider’s stock, valued at approximately $88,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Haverford Trust Co boosted its holdings in shares of ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after purchasing an additional 10 shares during the period. Edgemoor Investment Advisors Inc. boosted its holdings 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 worth $366,000 after purchasing an additional 11 shares during the period. Integrated Investment Consultants LLC boosted its holdings in shares of ServiceNow by 2.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock worth $358,000 after purchasing an additional 11 shares during the period. one8zero8 LLC boosted its holdings in shares of ServiceNow by 3.2% in the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock worth $283,000 after purchasing an additional 11 shares during the period. Finally, Capital Investment Advisory Services LLC boosted its holdings in shares of ServiceNow by 2.1% in the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider’s stock worth $459,000 after purchasing an additional 12 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Bank of America lifted their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Citigroup boosted their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Stifel Nicolaus boosted their price objective on ServiceNow from $975.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Finally, BMO Capital Markets boosted their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $1,115.20.

ServiceNow Price Performance

Shares of NOW stock opened at $918.49 on Friday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a market capitalization of $191.04 billion, a price-to-earnings ratio of 115.68, a P/E/G ratio of 4.19 and a beta of 0.93. The stock has a fifty day simple moving average of $945.88 and a two-hundred day simple moving average of $925.54. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate 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 earned $3.13 EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. On average, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 1,562 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the sale, the insider directly owned 3,027 shares in the company, valued at approximately $2,622,744.15. This represents a 34.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Fipps sold 1,452 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the sale, the insider owned 457 shares of the company’s stock, valued at $409,037.85. This represents a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,302 shares of company stock worth $10,956,796. 0.38% of the stock is owned by company insiders.

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.