Symmetry Partners LLC Invests $216,000 in ServiceNow, Inc. $NOW

Symmetry Partners LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 210 shares of the information technology services provider’s stock, valued at approximately $216,000.

Other hedge funds have also bought and sold shares of the company. Bogart Wealth LLC increased its holdings in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new position in ServiceNow in the 1st quarter worth approximately $26,000. WASHINGTON TRUST Co lifted its stake in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares during the period. Global X Japan Co. Ltd. purchased a new stake in shares of ServiceNow in the 2nd quarter valued at $30,000. Finally, Dagco Inc. acquired a new stake in shares of ServiceNow in the first quarter worth $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of several recent research reports. Erste Group Bank reaffirmed a “hold” rating on shares of ServiceNow in a report on Wednesday, July 23rd. Barclays set a $1,210.00 price target on ServiceNow in a research report on Thursday, July 24th. Bank of America raised their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Raymond James Financial increased their price target on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,122.20.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Fipps sold 1,452 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider owned 457 shares in the company, valued at approximately $409,037.85. This trade represents a 76.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,976 shares of company stock valued at $17,049,775. 0.38% of the stock is owned by company insiders.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $936.76 on Friday. The firm has a market cap of $194.85 billion, a PE ratio of 117.98, a price-to-earnings-growth ratio of 4.22 and a beta of 0.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The business’s fifty day simple moving average is $919.74 and its 200-day simple moving average is $926.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the business earned $3.13 earnings per share. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.