Sei Investments Co. Has $307.18 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Sei Investments Co. raised its position in ServiceNow, Inc. (NYSE:NOW) by 5.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 546,614 shares of the information technology services provider’s stock after buying an additional 28,209 shares during the period. ServiceNow comprises approximately 0.5% of Sei Investments Co.’s holdings, making the stock its 27th largest holding. Sei Investments Co. owned about 0.27% of ServiceNow worth $307,179,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. RB Capital Management LLC boosted its position in shares of ServiceNow by 25.2% in the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock worth $531,000 after purchasing an additional 192 shares during the last quarter. Zions Bancorporation N.A. boosted its position in shares of ServiceNow by 17.9% in the 1st quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock worth $487,000 after purchasing an additional 133 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of ServiceNow by 728.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock worth $1,070,000 after purchasing an additional 1,689 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in ServiceNow by 9.0% during the first quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock worth $195,000 after acquiring an additional 29 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in ServiceNow by 0.7% during the first quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock worth $6,499,000 after acquiring an additional 86 shares in the last quarter. 87.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ServiceNow news, COO Chirantan Jitendra Desai sold 4,500 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $592.10, for a total transaction of $2,664,450.00. Following the completion of the sale, the chief operating officer now directly owns 41,307 shares in the company, valued at approximately $24,457,874.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other ServiceNow news, COO Chirantan Jitendra Desai sold 4,500 shares of ServiceNow stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $592.10, for a total transaction of $2,664,450.00. Following the completion of the transaction, the chief operating officer now owns 41,307 shares in the company, valued at approximately $24,457,874.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Bedi sold 1,000 shares of ServiceNow stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $593.51, for a total value of $593,510.00. Following the transaction, the insider now owns 15,484 shares of the company’s stock, valued at approximately $9,189,908.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,656 shares of company stock worth $5,649,228. Company insiders own 0.24% of the company’s stock.

ServiceNow Price Performance

Shares of NOW traded down $1.55 during trading hours on Tuesday, reaching $665.37. The stock had a trading volume of 344,414 shares, compared to its average volume of 1,409,942. The stock has a market capitalization of $136.40 billion, a PE ratio of 86.39, a PEG ratio of 5.68 and a beta of 0.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.08 and a current ratio of 1.08. ServiceNow, Inc. has a 12 month low of $353.62 and a 12 month high of $670.64. The company’s 50-day moving average is $579.15 and its two-hundred day moving average is $560.27.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 25th. The information technology services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.32. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.27 billion. ServiceNow had a return on equity of 12.25% and a net margin of 18.72%. Research analysts expect that ServiceNow, Inc. will post 4.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NOW shares. Morgan Stanley lifted their price target on ServiceNow from $630.00 to $648.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. Jefferies Financial Group boosted their price target on ServiceNow from $525.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Citigroup lowered their price target on ServiceNow from $734.00 to $700.00 and set a “buy” rating on the stock in a research report on Thursday, October 19th. JMP Securities reissued a “market outperform” rating and set a $665.00 price target on shares of ServiceNow in a research report on Tuesday, October 17th. Finally, Wells Fargo & Company boosted their price target on ServiceNow from $650.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and an average price target of $614.77.

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.