Compagnie Lombard Odier SCmA Purchases 7,610 Shares of ServiceNow, Inc. $NOW

Compagnie Lombard Odier SCmA lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,767 shares of the information technology services provider’s stock after buying an additional 7,610 shares during the period. ServiceNow makes up approximately 2.1% of Compagnie Lombard Odier SCmA’s investment portfolio, making the stock its 13th biggest position. Compagnie Lombard Odier SCmA owned about 0.07% of ServiceNow worth $159,113,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NOW. GAMMA Investing LLC raised its position in ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock valued at $2,141,108,000 after purchasing an additional 2,686,291 shares in the last quarter. Nuveen LLC acquired a new position in ServiceNow during the first quarter valued at approximately $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in ServiceNow by 1,586.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock valued at $742,965,000 after purchasing an additional 877,875 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of ServiceNow by 131.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock worth $1,178,706,000 after buying an additional 840,731 shares in the last quarter. Finally, Parnassus Investments LLC acquired a new position in shares of ServiceNow during the first quarter worth $519,806,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOW has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. FBN Securities raised shares of ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. Oppenheimer reissued an “outperform” rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Morgan Stanley reissued an “equal weight” rating on shares of ServiceNow in a research note on Tuesday, July 8th. Finally, DA Davidson boosted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,115.20.

ServiceNow Trading Down 1.3%

NYSE:NOW opened at $948.49 on Tuesday. 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 $197.29 billion, a PE ratio of 119.46, a price-to-earnings-growth ratio of 4.33 and a beta of 0.91. The firm’s 50 day moving average is $922.33 and its 200 day moving average is $924.52. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

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

Insider Activity

In other news, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the sale, the general counsel directly owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the sale, the insider directly owned 3,027 shares of the company’s stock, valued at $2,622,744.15. This represents a 34.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,976 shares of company stock worth $17,049,775. Company insiders own 0.38% of the company’s stock.

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.