ServiceNow, Inc. $NOW Shares Purchased by MIG Capital LLC

by · The Cerbat Gem

MIG Capital LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW – Free Report) by 350.8% in the 1st quarter, Holdings Channel reports. The firm owned 1,402 shares of the information technology services provider’s stock after purchasing an additional 1,091 shares during the period. ServiceNow comprises about 0.1% of MIG Capital LLC’s portfolio, making the stock its 24th largest holding. MIG Capital LLC’s holdings in ServiceNow were worth $1,116,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in ServiceNow by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock valued at $15,522,335,000 after purchasing an additional 297,734 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock worth $8,434,235,000 after acquiring an additional 509,467 shares in the last quarter. GAMMA Investing LLC increased its position in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of ServiceNow by 3.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider’s stock worth $2,814,433,000 after acquiring an additional 87,876 shares during the period. Finally, Nuveen Asset Management LLC increased its position in shares of ServiceNow by 4.9% during the fourth quarter. Nuveen Asset Management LLC now owns 2,343,840 shares of the information technology services provider’s stock worth $2,484,752,000 after acquiring an additional 109,293 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

NOW has been the topic of a number of recent research reports. TD Securities reaffirmed a “buy” rating and set a $1,100.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Stifel Nicolaus upped their price objective on ServiceNow from $975.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Oppenheimer reiterated an “outperform” rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Finally, Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,115.20.

View Our Latest Report on NOW

Insiders Place Their Bets

In other news, CFO Gina Mastantuono sold 84 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $860.57, for a total value of $72,287.88. Following the completion of the sale, the chief financial officer directly owned 11,572 shares of the company’s stock, valued at approximately $9,958,516.04. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 239 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the transaction, the director directly owned 10,404 shares of the company’s stock, valued at $10,924,200. This represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,038 shares of company stock valued at $5,971,973. 0.38% of the stock is owned by insiders.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $890.73 on Tuesday. The company has a 50-day simple moving average of $964.30 and a 200-day simple moving average of $932.15. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $185.27 billion, a price-to-earnings ratio of 112.18, a PEG ratio of 3.91 and a beta of 0.93.

ServiceNow (NYSE:NOW – Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the company earned $3.13 earnings per share. The business’s revenue was up 22.4% compared to the same quarter last year. On average, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow Company Profile

(Free Report)

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.

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