Lombard Odier Asset Management Europe Ltd Invests $1.68 Million in ServiceNow, Inc. (NYSE:NOW)

Lombard Odier Asset Management Europe Ltd purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,136 shares of the information technology services provider’s stock, valued at approximately $1,680,000.

Several other institutional investors also recently modified their holdings of the stock. Public Sector Pension Investment Board increased its holdings in shares of ServiceNow by 74.4% during the second quarter. Public Sector Pension Investment Board now owns 7,884 shares of the information technology services provider’s stock worth $6,202,000 after buying an additional 3,364 shares in the last quarter. Beck Capital Management LLC increased its holdings in ServiceNow by 20.6% in the second quarter. Beck Capital Management LLC now owns 4,568 shares of the information technology services provider’s stock valued at $3,593,000 after purchasing an additional 781 shares during the period. Steel Grove Capital Advisors LLC increased its holdings in ServiceNow by 44.1% in the second quarter. Steel Grove Capital Advisors LLC now owns 947 shares of the information technology services provider’s stock valued at $745,000 after purchasing an additional 290 shares during the period. Battery Global Advisors LLC increased its holdings in ServiceNow by 9.9% in the second quarter. Battery Global Advisors LLC now owns 788 shares of the information technology services provider’s stock valued at $620,000 after purchasing an additional 71 shares during the period. Finally, Nippon Life Global Investors Americas Inc. increased its holdings in ServiceNow by 8.5% in the second quarter. Nippon Life Global Investors Americas Inc. now owns 72,480 shares of the information technology services provider’s stock valued at $57,018,000 after purchasing an additional 5,690 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the firm’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 completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jacqueline P. Canney sold 804 shares of ServiceNow stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,457,924. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow 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 completion of the transaction, 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. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 in the last quarter. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Guggenheim reiterated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a report on Monday, July 8th. Piper Sandler increased their price target on ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BMO Capital Markets increased their price target on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Truist Financial increased their price target on ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Citigroup increased their price target on ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $855.44.

ServiceNow Trading Down 1.3 %

NYSE:NOW opened at $925.55 on Tuesday. The firm has a 50-day moving average price of $825.72 and a two-hundred day moving average price of $772.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $945.46. The firm has a market cap of $189.74 billion, a price-to-earnings ratio of 98.99, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its quarterly 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. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business posted $0.77 EPS. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, equities analysts expect that ServiceNow, Inc. will post 6.78 earnings per share 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.