Sivia Capital Partners LLC Acquires Shares of 345 ServiceNow, Inc. (NYSE:NOW)

Sivia Capital Partners LLC acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 345 shares of the information technology services provider’s stock, valued at approximately $244,000.

A number of other large investors have also added to or reduced their stakes in NOW. QRG Capital Management Inc. purchased a new position in ServiceNow during the third quarter valued at $3,297,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of ServiceNow in the 3rd quarter worth $13,991,000. Envestnet Asset Management Inc. increased its holdings in shares of ServiceNow by 27.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 710,118 shares of the information technology services provider’s stock worth $396,927,000 after purchasing an additional 153,137 shares in the last quarter. Balentine LLC increased its holdings in shares of ServiceNow by 13.7% in the 3rd quarter. Balentine LLC now owns 739 shares of the information technology services provider’s stock worth $413,000 after purchasing an additional 89 shares in the last quarter. Finally, Chiron Investment Management LLC bought a new stake in shares of ServiceNow in the 3rd quarter worth $4,886,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NYSE:NOW opened at $725.36 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $148.70 billion, a P/E ratio of 77.58, a P/E/G ratio of 4.57 and a beta of 0.96. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $815.32. The business’s 50-day moving average is $726.49 and its 200 day moving average is $737.87.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. On average, equities research analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the sale, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Christopher Bedi sold 215 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the sale, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Tzitzon sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $2,521,422.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,530 shares of company stock worth $3,997,012. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NOW. Wolfe Research reissued an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a report on Friday, May 10th. Robert W. Baird lifted their price objective on ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. UBS Group cut their price objective on ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Finally, Morgan Stanley lifted their target price on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $814.48.

About ServiceNow

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.