RGM Capital LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 16.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,994 shares of the information technology services provider’s stock after buying an additional 22,500 shares during the quarter. ServiceNow comprises approximately 5.1% of RGM Capital LLC’s investment portfolio, making the stock its 9th biggest position. RGM Capital LLC’s holdings in ServiceNow were worth $128,222,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow during the 1st quarter worth approximately $25,000. Versant Capital Management Inc lifted 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 purchasing an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow in the 4th quarter valued at $29,000. EntryPoint Capital LLC increased its stake in shares of ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow during the 2nd quarter worth $32,000. Institutional investors own 87.18% of the company’s stock.
ServiceNow Trading Up 2.0 %
NYSE NOW opened at $937.36 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $940.12. The business has a 50 day moving average price of $822.56 and a 200-day moving average price of $771.44. The company has a market cap of $192.16 billion, a price-to-earnings ratio of 100.25, a P/E/G ratio of 5.25 and a beta of 0.98.
Analyst Upgrades and Downgrades
NOW has been the topic of several research analyst reports. JMP Securities raised their price objective on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price objective on shares of ServiceNow in a research note on Monday, September 9th. TD Cowen boosted their target price on shares of ServiceNow from $870.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $835.00 price target on shares of ServiceNow in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $855.44.
View Our Latest Research Report on NOW
Insider Buying and Selling
In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 in the last quarter. 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.
Read More
- Five stocks we like better than ServiceNow
- CD Calculator: Certificate of Deposit Calculator
- Take Advantage of Village Farms Stock as Cannabis Market Evolves
- The 3 Best Retail Stocks to Shop for in August
- MarketBeat Week in Review – 9/16 – 9/20
- What is the FTSE 100 index?
- Don’t Miss These 3 Retail Stocks for Fall Gains
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW – Free Report).
Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.