ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Battery Global Advisors LLC

Battery Global Advisors LLC raised its position in ServiceNow, Inc. (NYSE:NOW) by 9.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 788 shares of the information technology services provider’s stock after acquiring an additional 71 shares during the period. ServiceNow accounts for about 0.4% of Battery Global Advisors LLC’s portfolio, making the stock its 22nd largest position. Battery Global Advisors LLC’s holdings in ServiceNow were worth $620,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NOW. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the 1st quarter worth about $25,000. Versant Capital Management Inc boosted its stake in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the period. EntryPoint Capital LLC increased its position in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow in the 4th quarter valued at approximately $29,000. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 2.0 %

NOW opened at $937.36 on Monday. 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, Inc. has a one year low of $527.24 and a one year high of $940.12. The company has a market cap of $192.16 billion, a P/E ratio of 100.25, a PEG ratio of 5.25 and a beta of 0.98. The business’s 50-day simple moving average is $822.56 and its 200-day simple moving average is $771.66.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. BMO Capital Markets boosted their price objective on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada raised their target price on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. KeyCorp cut their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Finally, Stifel Nicolaus increased their price target on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $855.44.

Insider Activity at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The shares were 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 $3,027,502.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock valued at $5,608,936 in the last ninety days. Insiders own 0.25% of the company’s stock.

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.