Quest Partners LLC Has $52,000 Stake in ServiceNow, Inc. (NYSE:NOW)

Quest Partners LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 88.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66 shares of the information technology services provider’s stock after selling 527 shares during the quarter. Quest Partners LLC’s holdings in ServiceNow were worth $52,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the 1st quarter worth about $25,000. Versant Capital Management Inc raised its position in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow in the fourth quarter valued at approximately $29,000. EntryPoint Capital LLC grew its position in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow during the 2nd quarter worth $32,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Up 0.7 %

NOW opened at $891.59 on Thursday. The company has a market capitalization of $182.78 billion, a P/E ratio of 95.36, a P/E/G ratio of 5.25 and a beta of 0.98. 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 firm’s fifty day moving average price is $815.58 and its two-hundred day moving average price is $769.06. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $899.71.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business 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 business earned $0.77 EPS. The firm’s revenue was up 22.2% on a year-over-year basis. On average, analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NOW. TD Cowen lifted their price objective on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Citigroup boosted their price target on ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. increased their price objective on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Stifel Nicolaus boosted their target price on ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

Insider Activity

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on 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 owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,914 shares of company stock worth $5,608,936. Company insiders own 0.25% of the company’s stock.

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.