ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Sit Investment Associates Inc.

Sit Investment Associates Inc. boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,094 shares of the information technology services provider’s stock after buying an additional 280 shares during the quarter. Sit Investment Associates Inc.’s holdings in ServiceNow were worth $5,673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Barrett & Company Inc. acquired a new position in ServiceNow during the 1st quarter worth $28,000. High Net Worth Advisory Group LLC acquired a new position in shares of ServiceNow during the first quarter worth about $29,000. Altshuler Shaham Ltd acquired a new position in shares of ServiceNow during the second quarter worth about $30,000. Larson Financial Group LLC increased its stake in shares of ServiceNow by 153.8% during the first quarter. Larson Financial Group LLC now owns 66 shares of the information technology services provider’s stock worth $31,000 after buying an additional 40 shares during the period. Finally, Global Trust Asset Management LLC raised its holdings in ServiceNow by 1,425.0% in the second quarter. Global Trust Asset Management LLC now owns 61 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 87.14% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $654.17 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $574.74 and a 200-day simple moving average of $554.19. The company has a market cap of $134.10 billion, a price-to-earnings ratio of 84.74, a price-to-earnings-growth ratio of 5.62 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $353.62 and a 12-month high of $656.84.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 386 shares of the business’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $554.89, for a total transaction of $214,187.54. Following the sale, the chief financial officer now directly owns 9,102 shares in the company, valued at approximately $5,050,608.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ServiceNow news, insider Jacqueline P. Canney sold 1,486 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $544.95, for a total transaction of $809,795.70. Following the sale, the insider now directly owns 1,486 shares in the company, valued at $809,795.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 386 shares of the firm’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $554.89, for a total value of $214,187.54. Following the completion of the transaction, the chief financial officer now owns 9,102 shares of the company’s stock, valued at approximately $5,050,608.78. The disclosure for this sale can be found here. Insiders have sold 11,291 shares of company stock valued at $6,539,185 over the last quarter. Company insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of ServiceNow from $650.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. Moffett Nathanson raised their price target on ServiceNow from $549.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. HSBC assumed coverage on ServiceNow in a research report on Friday, September 15th. They set a “buy” rating and a $704.00 target price on the stock. Oppenheimer upped their price target on ServiceNow from $500.00 to $640.00 in a report on Thursday, July 20th. Finally, Jefferies Financial Group raised their price objective on shares of ServiceNow from $525.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $614.77.

About ServiceNow

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.