G&S Capital LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

G&S Capital LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,901 shares of the information technology services provider’s stock, valued at approximately $2,212,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NOW. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow during the 4th quarter worth approximately $29,000. AdvisorNet Financial Inc boosted its stake in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Disciplined Equity Management Inc. acquired a new stake in ServiceNow in the fourth quarter worth $35,000. Sachetta LLC bought a new stake in ServiceNow in the fourth quarter valued at $35,000. Finally, Fortitude Family Office LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at about $41,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In related news, insider Paul John Smith sold 190 shares of ServiceNow stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the sale, the insider now owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares in the company, valued at $11,124,400. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul John Smith sold 190 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the sale, the insider now directly owns 3,010 shares in the company, valued at approximately $2,163,527.80. The disclosure for this sale can be found here. Insiders have sold a total of 5,530 shares of company stock worth $3,997,012 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NOW. Wells Fargo & Company boosted their target price on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 target price on shares of ServiceNow in a research report on Wednesday, March 20th. Morgan Stanley lifted their price target on shares of ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. JMP Securities restated a “market outperform” rating and set a $825.00 price objective on shares of ServiceNow in a report on Tuesday, May 7th. Finally, StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $814.48.

ServiceNow Stock Performance

NYSE NOW opened at $754.29 on Thursday. The company has a market capitalization of $154.63 billion, a PE ratio of 80.67, a price-to-earnings-growth ratio of 4.73 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $815.32. The company has a 50-day simple moving average of $723.87 and a 200 day simple moving average of $739.98.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. On average, research analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current year.

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.