44,922 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Interval Partners LP

Interval Partners LP acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the second quarter, according to its most recent filing with the SEC. The firm acquired 44,922 shares of the information technology services provider’s stock, valued at approximately $35,339,000. ServiceNow comprises approximately 0.8% of Interval Partners LP’s holdings, making the stock its 24th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOW. Morling Financial Advisors LLC increased its position in ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after purchasing an additional 13 shares during the period. Optas LLC grew its position in shares of ServiceNow by 1.7% during the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after buying an additional 14 shares during the period. Cedar Wealth Management LLC raised its stake in shares of ServiceNow by 5.5% during the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after buying an additional 14 shares during the last quarter. Financial Advocates Investment Management lifted its holdings in ServiceNow by 2.7% in the second quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock valued at $415,000 after buying an additional 14 shares during the period. Finally, Ndwm LLC boosted its stake in ServiceNow by 0.6% in the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock valued at $1,900,000 after acquiring an additional 14 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction on 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 transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the business’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 transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NOW. JPMorgan Chase & Co. increased their price target on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. JMP Securities raised their target price on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. KeyCorp lowered their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Canaccord Genuity Group reissued a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. Finally, Guggenheim restated a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $855.44.

ServiceNow Stock Up 2.0 %

Shares of NOW stock opened at $937.36 on Monday. The firm’s fifty day moving average price is $822.56 and its two-hundred day moving average price is $771.66. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $940.12. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $192.16 billion, a P/E ratio of 100.25, a PEG ratio of 5.25 and a beta of 0.98.

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 the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share. On average, equities analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

ServiceNow 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.