ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Renaissance Group LLC

Renaissance Group LLC lifted its position in ServiceNow, Inc. (NYSE:NOW) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,906 shares of the information technology services provider’s stock after purchasing an additional 2,930 shares during the period. Renaissance Group LLC’s holdings in ServiceNow were worth $27,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. New Hampshire Trust raised its position in ServiceNow by 4.0% during the first quarter. New Hampshire Trust now owns 599 shares of the information technology services provider’s stock worth $278,000 after acquiring an additional 23 shares during the period. Miracle Mile Advisors LLC raised its position in ServiceNow by 1.4% during the first quarter. Miracle Mile Advisors LLC now owns 1,666 shares of the information technology services provider’s stock worth $774,000 after acquiring an additional 23 shares during the period. Sigma Planning Corp raised its position in ServiceNow by 0.9% during the first quarter. Sigma Planning Corp now owns 2,454 shares of the information technology services provider’s stock worth $1,141,000 after acquiring an additional 23 shares during the period. Alera Investment Advisors LLC raised its position in ServiceNow by 2.7% during the first quarter. Alera Investment Advisors LLC now owns 928 shares of the information technology services provider’s stock worth $431,000 after acquiring an additional 24 shares during the period. Finally, Mirova raised its position in ServiceNow by 1.0% during the fourth quarter. Mirova now owns 2,525 shares of the information technology services provider’s stock worth $980,000 after acquiring an additional 25 shares during the period. 87.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other news, insider Christopher Bedi sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $560.85, for a total transaction of $560,850.00. Following the transaction, the insider now directly owns 14,121 shares in the company, valued at $7,919,762.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Christopher Bedi sold 1,000 shares of ServiceNow stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $560.85, for a total value of $560,850.00. Following the transaction, the insider now directly owns 14,121 shares in the company, valued at approximately $7,919,762.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 91 shares of ServiceNow stock in a transaction on Friday, August 18th. The shares were sold at an average price of $535.10, for a total transaction of $48,694.10. Following the completion of the transaction, the general counsel now owns 4,225 shares in the company, valued at $2,260,797.50. The disclosure for this sale can be found here. Insiders have sold 17,951 shares of company stock worth $10,147,437 over the last three months. Insiders own 0.24% of the company’s stock.

ServiceNow Stock Up 0.0 %

NYSE:NOW traded up $0.19 during mid-day trading on Friday, hitting $599.51. The stock had a trading volume of 186,202 shares, compared to its average volume of 1,476,412. The stock has a 50-day simple moving average of $570.17 and a two-hundred day simple moving average of $510.99. The company has a market capitalization of $122.14 billion, a PE ratio of 86.36, a PEG ratio of 6.04 and a beta of 1.01. ServiceNow, Inc. has a twelve month low of $337.00 and a twelve month high of $614.36. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.21.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 26th. The information technology services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.34. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.13 billion. ServiceNow had a net margin of 17.76% and a return on equity of 11.07%. On average, equities research analysts anticipate that ServiceNow, Inc. will post 3.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NOW shares. Bank of America upped their target price on shares of ServiceNow from $600.00 to $700.00 in a report on Wednesday, July 19th. Wells Fargo & Company upped their target price on shares of ServiceNow from $625.00 to $650.00 in a report on Thursday, July 27th. Robert W. Baird upped their target price on shares of ServiceNow from $640.00 to $650.00 in a report on Thursday, July 27th. BMO Capital Markets upped their target price on shares of ServiceNow from $515.00 to $630.00 in a report on Thursday, July 27th. Finally, Evercore ISI upped their target price on shares of ServiceNow from $550.00 to $650.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Two analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $591.38.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.