1,105 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by GAMMA Investing LLC

GAMMA Investing LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,105 shares of the information technology services provider’s stock, valued at approximately $846,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NOW. Sandbox Financial Partners LLC lifted its stake in ServiceNow by 8.6% in the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after acquiring an additional 66 shares during the period. Federated Hermes Inc. raised its holdings in ServiceNow by 19.8% in the fourth quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after purchasing an additional 49,631 shares in the last quarter. Raymond James & Associates raised its holdings in ServiceNow by 5.9% in the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock worth $234,135,000 after purchasing an additional 18,442 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in ServiceNow by 15.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock worth $18,175,000 after purchasing an additional 3,438 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in ServiceNow by 4.7% in the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock worth $49,560,000 after purchasing an additional 3,154 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 2.6 %

Shares of NYSE NOW traded up $19.00 during mid-day trading on Tuesday, reaching $740.95. 1,056,076 shares of the company were exchanged, compared to its average volume of 1,178,383. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock has a market cap of $152.18 billion, a price-to-earnings ratio of 88.25, a P/E/G ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32. The firm has a 50-day moving average of $762.90 and a 200 day moving average of $705.19.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company’s revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 earnings per share. On average, research analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NOW shares. Stifel Nicolaus restated a “buy” rating and set a $820.00 price target on shares of ServiceNow in a report on Wednesday, March 20th. The Goldman Sachs Group raised their price target on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research report on Monday, April 15th. Mizuho increased their price objective on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Citigroup increased their price objective on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $780.37.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the transaction, the insider now owns 994 shares in the company, valued at $776,373.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul John Smith sold 1,795 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now owns 994 shares in the company, valued at approximately $776,373.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by corporate insiders.

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.