Bwcp LP Acquires Shares of 12,261 ServiceNow, Inc. (NYSE:NOW)

Bwcp LP bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,261 shares of the information technology services provider’s stock, valued at approximately $9,645,000. ServiceNow makes up approximately 2.4% of Bwcp LP’s portfolio, making the stock its 21st biggest position.

A number of other institutional investors have also recently modified their holdings of the business. Trexquant Investment LP purchased a new stake in shares of ServiceNow in the fourth quarter valued at approximately $1,081,000. Quest Partners LLC acquired a new position in ServiceNow during the fourth quarter worth $167,000. Intech Investment Management LLC raised its position in ServiceNow by 47.5% during the fourth quarter. Intech Investment Management LLC now owns 1,161 shares of the information technology services provider’s stock worth $820,000 after acquiring an additional 374 shares during the period. Hilltop Holdings Inc. lifted its holdings in ServiceNow by 11.8% during the fourth quarter. Hilltop Holdings Inc. now owns 599 shares of the information technology services provider’s stock valued at $423,000 after purchasing an additional 63 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of ServiceNow by 0.4% during the fourth quarter. Parallel Advisors LLC now owns 4,477 shares of the information technology services provider’s stock worth $3,163,000 after purchasing an additional 18 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Down 0.2 %

Shares of NOW stock opened at $923.60 on Wednesday. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $945.46. The firm has a market cap of $190.26 billion, a PE ratio of 98.78, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. The company has a 50-day moving average of $828.97 and a two-hundred day moving average of $773.93. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter last year, the company posted $0.77 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. On average, analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research reports. Guggenheim reaffirmed a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a research note on Monday, July 8th. Piper Sandler raised their target price on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company boosted their price target on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price objective on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $855.44.

Insider Activity

In related news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction 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 sale, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is currently owned by corporate insiders.

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.