Gardner Lewis Asset Management L P Has $4.75 Million Position in ServiceNow, Inc. (NYSE:NOW)

Gardner Lewis Asset Management L P boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 49.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,039 shares of the information technology services provider’s stock after acquiring an additional 2,001 shares during the quarter. ServiceNow accounts for about 1.3% of Gardner Lewis Asset Management L P’s portfolio, making the stock its 28th largest position. Gardner Lewis Asset Management L P’s holdings in ServiceNow were worth $4,751,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of ServiceNow by 18.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of ServiceNow by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after buying an additional 34,855 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of ServiceNow by 7.5% in the fourth quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock valued at $1,023,315,000 after buying an additional 101,485 shares during the period. Finally, Swedbank AB raised its position in shares of ServiceNow by 10.3% during the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after acquiring an additional 120,983 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Down 0.6 %

NYSE:NOW opened at $886.77 on Wednesday. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $899.61. The stock’s fifty day moving average price is $812.61 and its two-hundred day moving average price is $768.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $181.79 billion, a P/E ratio of 94.84, a P/E/G ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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 business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the firm posted $0.77 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the company’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 transaction of $1,485,000.00. Following the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upped their target price on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets lifted their target price on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research report on Monday, September 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. Finally, TD Cowen upped their target price on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $855.44.

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.