Intech Investment Management LLC Increases Holdings in ServiceNow, Inc. (NYSE:NOW)

Intech Investment Management LLC boosted its position in ServiceNow, Inc. (NYSE:NOW) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,388 shares of the information technology services provider’s stock after buying an additional 450 shares during the quarter. Intech Investment Management LLC’s holdings in ServiceNow were worth $5,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Mathes Company Inc. boosted its stake in shares of ServiceNow by 1.3% in the 2nd quarter. Mathes Company Inc. now owns 6,105 shares of the information technology services provider’s stock valued at $4,803,000 after purchasing an additional 80 shares in the last quarter. Middleton & Co. Inc. MA boosted its position in ServiceNow by 9.8% during the second quarter. Middleton & Co. Inc. MA now owns 21,299 shares of the information technology services provider’s stock valued at $16,755,000 after buying an additional 1,904 shares during the period. Gardner Lewis Asset Management L P grew its stake in shares of ServiceNow by 49.6% during the second quarter. Gardner Lewis Asset Management L P now owns 6,039 shares of the information technology services provider’s stock valued at $4,751,000 after buying an additional 2,001 shares during the last quarter. CCLA Investment Management grew its stake in shares of ServiceNow by 1.1% during the second quarter. CCLA Investment Management now owns 121,186 shares of the information technology services provider’s stock valued at $93,938,000 after buying an additional 1,280 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co increased its holdings in shares of ServiceNow by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 18,826 shares of the information technology services provider’s stock worth $14,810,000 after buying an additional 95 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

Shares of NOW opened at $937.36 on Friday. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $940.12. The firm’s 50-day simple moving average is $822.56 and its two-hundred day simple moving average is $771.44. The stock has a market cap of $192.16 billion, a PE ratio of 100.25, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. 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 data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. Analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 in the last quarter. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on NOW. KeyCorp reduced their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Wells Fargo & Company lifted their target price on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Citigroup increased their price target on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. TD Cowen boosted their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Piper Sandler increased their target price on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow 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.