ServiceNow, Inc. $NOW Shares Bought by Running Oak Capital LLC

Running Oak Capital LLC increased its position in ServiceNow, Inc. (NYSE:NOW) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,540 shares of the information technology services provider’s stock after purchasing an additional 5,169 shares during the period. ServiceNow makes up 2.3% of Running Oak Capital LLC’s investment portfolio, making the stock its 5th largest holding. Running Oak Capital LLC’s holdings in ServiceNow were worth $14,813,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NOW. BlackRock Inc. bought a new stake in ServiceNow during the 2nd quarter valued at $9,536,615,000. Bank of New York Mellon Corp bought a new position in shares of ServiceNow in the second quarter valued at $712,573,000. Legal & General Group Plc bought a new position in shares of ServiceNow in the second quarter valued at $641,888,000. Bank of America Corp DE acquired a new position in shares of ServiceNow during the second quarter valued at about $627,355,000. Finally, Deutsche Bank AG acquired a new position in shares of ServiceNow during the second quarter valued at about $595,157,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, Director Paul Chamberlain sold 2,700 shares of ServiceNow stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $135.50, for a total value of $365,850.00. Following the sale, the director owned 43,990 shares of the company’s stock, valued at approximately $5,960,645. The trade was a 5.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Fipps sold 2,034 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $147.87, for a total transaction of $300,767.58. Following the completion of the transaction, the insider owned 18,305 shares in the company, valued at approximately $2,706,760.35. The trade was a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 14,081 shares of company stock worth $1,937,904. 0.34% of the stock is owned by company insiders.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $102.86 on Tuesday. The business’s fifty day simple moving average is $135.47 and its 200 day simple moving average is $114.69. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $175.00. The firm has a market capitalization of $106.77 billion, a P/E ratio of 74.00, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter last year, the company earned $4.82 EPS. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, analysts anticipate that ServiceNow, Inc. will post 2.12 EPS for the current year.

Analysts Set New Price Targets

NOW has been the subject of several recent research reports. Yorkville Ives started coverage on shares of ServiceNow in a research report on Monday, October 5th. They set an “outperform” rating and a $160.00 target price for the company. Bank of America raised their price target on shares of ServiceNow from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. UBS Group reiterated an “underweight” rating on shares of ServiceNow in a research note on Thursday, October 29th. DA Davidson set a $170.00 target price on ServiceNow and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Argus reaffirmed a “buy” rating and set a $170.00 target price on shares of ServiceNow in a research report on Tuesday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $154.50.

About ServiceNow

ServiceNow, Inc provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations.

Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.

ServiceNow serves businesses and public-sector organizations around the world.