Mathes Company Inc. Has $4.80 Million Position in ServiceNow, Inc. (NYSE:NOW)

Mathes Company Inc. raised its stake in ServiceNow, Inc. (NYSE:NOW) by 1.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 6,105 shares of the information technology services provider’s stock after buying an additional 80 shares during the quarter. ServiceNow comprises approximately 1.7% of Mathes Company Inc.’s investment portfolio, making the stock its 18th biggest position. Mathes Company Inc.’s holdings in ServiceNow were worth $4,803,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Sepio Capital LP increased its stake in ServiceNow by 7.8% in the fourth quarter. Sepio Capital LP now owns 1,171 shares of the information technology services provider’s stock valued at $827,000 after acquiring an additional 85 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of ServiceNow by 7.0% in the 4th quarter. Great Lakes Advisors LLC now owns 954 shares of the information technology services provider’s stock valued at $674,000 after purchasing an additional 62 shares during the last quarter. Sachetta LLC acquired a new position in shares of ServiceNow during the 4th quarter worth $35,000. Trexquant Investment LP bought a new stake in shares of ServiceNow during the 4th quarter worth $1,081,000. Finally, Quest Partners LLC acquired a new stake in ServiceNow in the fourth quarter valued at about $167,000. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the sale, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at approximately $9,479,250. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock worth $5,608,936 over the last three months. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on NOW. JMP Securities boosted their target price on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. Citigroup increased their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. KeyCorp cut their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Royal Bank of Canada upped their target price on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Trading Up 0.7 %

Shares of ServiceNow stock opened at $891.59 on Thursday. The stock has a market capitalization of $182.78 billion, a PE ratio of 95.36, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $899.71. The stock has a 50 day moving average price of $815.58 and a two-hundred day moving average price of $769.06. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. As a group, equities analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

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.