Partners Capital Investment Group LLP Acquires Shares of 7,345 ServiceNow, Inc. $NOW

Partners Capital Investment Group LLP bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,345 shares of the information technology services provider’s stock, valued at approximately $729,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NOW. Millstone Evans Group LLC increased its position in shares of ServiceNow by 400.0% during the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position in ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Blueline Advisors LLC bought a new position in ServiceNow in the 4th quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC boosted its stake in ServiceNow by 560.0% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. Finally, Wealth Watch Advisors INC increased its holdings in shares of ServiceNow by 432.3% in the 4th quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $125.60, for a total transaction of $188,400.00. Following the completion of the sale, the director directly owned 46,690 shares in the company, valued at approximately $5,864,264. The trade was a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.34% of the company’s stock.

ServiceNow Trading Down 0.3%

Shares of NYSE:NOW opened at $128.09 on Tuesday. The stock has a market capitalization of $132.45 billion, a price-to-earnings ratio of 80.06, a PEG ratio of 2.26 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The stock’s 50-day simple moving average is $109.36 and its two-hundred day simple moving average is $105.79. ServiceNow, Inc. has a 52-week low of $81.24 and a 52-week high of $194.73.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the company posted $0.81 EPS. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. Analysts expect that ServiceNow, Inc. will post 2.24 EPS for the current year.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research analyst reports. Capital One Financial upped their price target on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. BMO Capital Markets upped their target price on shares of ServiceNow from $115.00 to $118.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. BTIG Research reiterated a “buy” rating and issued a $150.00 price target on shares of ServiceNow in a research note on Wednesday, July 22nd. Morgan Stanley set a $180.00 price objective on shares of ServiceNow in a research report on Tuesday, July 21st. Finally, Piper Sandler restated an “overweight” rating and issued a $140.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.24.

About ServiceNow

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.