Sivia Capital Partners LLC Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Sivia Capital Partners LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 8.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 392 shares of the information technology services provider’s stock after buying an additional 29 shares during the period. Sivia Capital Partners LLC’s holdings in ServiceNow were worth $308,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. M&G Plc purchased a new position in ServiceNow in the first quarter valued at about $11,030,000. Smithfield Trust Co grew its position in shares of ServiceNow by 36.4% during the fourth quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after buying an additional 262 shares in the last quarter. New Mexico Educational Retirement Board increased its stake in shares of ServiceNow by 9.4% in the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after buying an additional 1,000 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in ServiceNow by 375.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after acquiring an additional 1,078 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its stake in ServiceNow by 3.4% during the 1st quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred 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 transaction, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 over the last ninety days. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $825.39 on Friday. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $863.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a fifty day moving average price of $799.33 and a two-hundred day moving average price of $762.78. The firm has a market cap of $169.20 billion, a P/E ratio of 88.28, a PEG ratio of 5.13 and a beta of 0.99.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NOW. Needham & Company LLC restated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Piper Sandler upped their price target on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Guggenheim reaffirmed a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. Finally, KeyCorp reduced their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $849.62.

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.