Atom Investors LP Takes $2.97 Million Position in ServiceNow Inc (NYSE:NOW)

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Atom Investors LP purchased a new stake in ServiceNow Inc (NYSE:NOW) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,320 shares of the information technology services provider’s stock, valued at approximately $2,965,000.

Several other large investors have also recently added to or reduced their stakes in the company. Evercore Wealth Management LLC boosted its holdings in shares of ServiceNow by 1.2% in the 2nd quarter. Evercore Wealth Management LLC now owns 1,964 shares of the information technology services provider’s stock valued at $796,000 after buying an additional 24 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in ServiceNow by 43.9% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 82 shares of the information technology services provider’s stock worth $33,000 after purchasing an additional 25 shares in the last quarter. Fulton Breakefield Broenniman LLC boosted its stake in ServiceNow by 2.2% in the 2nd quarter. Fulton Breakefield Broenniman LLC now owns 1,172 shares of the information technology services provider’s stock worth $475,000 after purchasing an additional 25 shares in the last quarter. Private Capital Group LLC boosted its stake in ServiceNow by 12.0% in the 2nd quarter. Private Capital Group LLC now owns 234 shares of the information technology services provider’s stock worth $95,000 after purchasing an additional 25 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its stake in ServiceNow by 31.7% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 108 shares of the information technology services provider’s stock worth $44,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

In other ServiceNow news, insider Chirantan Jitendra Desai sold 1,563 shares of ServiceNow stock in a transaction on Friday, June 12th. The shares were sold at an average price of $387.62, for a total transaction of $605,850.06. Following the sale, the insider now owns 26,379 shares of the company’s stock, valued at approximately $10,225,027.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Teresa Briggs sold 546 shares of ServiceNow stock in a transaction on Monday, June 15th. The stock was sold at an average price of $378.20, for a total transaction of $206,497.20. Following the sale, the director now directly owns 999 shares in the company, valued at approximately $377,821.80. The disclosure for this sale can be found here. In the last three months, insiders sold 104,851 shares of company stock valued at $43,935,306. 1.00% of the stock is owned by insiders.

NYSE NOW traded down $18.49 on Friday, hitting $450.35. The company had a trading volume of 2,676,824 shares, compared to its average volume of 1,855,234. The company has a market capitalization of $86.38 billion, a PE ratio of 122.38, a PEG ratio of 15.75 and a beta of 1.29. The company’s fifty day moving average price is $444.91 and its 200-day moving average price is $370.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.17 and a quick ratio of 1.17. ServiceNow Inc has a 12-month low of $213.99 and a 12-month high of $501.82.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 29th. The information technology services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $0.20 by $1.03. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. ServiceNow had a net margin of 18.42% and a return on equity of 11.09%. The firm’s revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, sell-side analysts anticipate that ServiceNow Inc will post 0.99 EPS for the current year.

A number of analysts recently commented on the stock. Piper Sandler lifted their target price on shares of ServiceNow from $360.00 to $430.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Stifel Nicolaus lifted their target price on shares of ServiceNow from $450.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Oppenheimer assumed coverage on shares of ServiceNow in a research note on Thursday, July 30th. They issued a “hold” rating for the company. Wells Fargo & Co lifted their target price on shares of ServiceNow from $405.00 to $525.00 in a research note on Thursday, July 30th. Finally, Credit Suisse Group raised their price target on shares of ServiceNow from $460.00 to $465.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $433.85.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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