Sycomore Asset Management Has $25.54 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Sycomore Asset Management grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 12.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 33,878 shares of the information technology services provider’s stock after buying an additional 3,624 shares during the quarter. ServiceNow accounts for approximately 4.5% of Sycomore Asset Management’s portfolio, making the stock its 4th biggest position. Sycomore Asset Management’s holdings in ServiceNow were worth $25,541,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morling Financial Advisors LLC increased its stake in ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 13 shares in the last quarter. Optas LLC lifted its position in ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after acquiring an additional 14 shares in the last quarter. Cedar Wealth Management LLC boosted its stake in ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after purchasing an additional 14 shares during the last quarter. Financial Advocates Investment Management increased its holdings in ServiceNow by 2.7% during the 2nd quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock worth $415,000 after purchasing an additional 14 shares in the last quarter. Finally, Ndwm LLC raised its stake in shares of ServiceNow by 0.6% in the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock worth $1,900,000 after purchasing an additional 14 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In other news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred on 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 directly owns 11,490 shares in the company, valued at approximately $9,479,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, 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 a total of 6,914 shares of company stock worth $5,608,936 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. JMP Securities lifted their target price on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research report on Thursday, July 25th. Truist Financial lifted their price objective on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. BMO Capital Markets increased their target price on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Guggenheim restated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. Finally, Piper Sandler increased their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Stock Up 1.4 %

ServiceNow stock opened at $894.40 on Tuesday. The firm has a 50 day simple moving average of $840.35 and a 200 day simple moving average of $777.10. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $945.46. The firm has a market capitalization of $183.35 billion, a price-to-earnings ratio of 95.66, a P/E/G ratio of 5.55 and a beta of 0.98.

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

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.