GAMMA Investing LLC Makes New $846,000 Investment in ServiceNow, Inc. (NYSE:NOW)

GAMMA Investing LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, HoldingsChannel.com reports. The firm bought 1,105 shares of the information technology services provider’s stock, valued at approximately $846,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC raised its position in shares of ServiceNow by 17.0% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 1,813 shares of the information technology services provider’s stock valued at $1,281,000 after buying an additional 264 shares during the last quarter. SlateStone Wealth LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at about $261,000. Aspire Private Capital LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at about $576,000. RWA Wealth Partners LLC raised its position in shares of ServiceNow by 170.8% during the fourth quarter. RWA Wealth Partners LLC now owns 9,178 shares of the information technology services provider’s stock valued at $6,484,000 after buying an additional 5,789 shares during the last quarter. Finally, Armbruster Capital Management Inc. acquired a new position in shares of ServiceNow during the fourth quarter valued at about $224,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 2.6 %

NOW traded up $19.00 during mid-day trading on Tuesday, hitting $740.95. The stock had a trading volume of 1,056,076 shares, compared to its average volume of 1,178,383. The stock’s fifty day simple moving average is $762.90 and its 200-day simple moving average is $705.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $152.18 billion, a price-to-earnings ratio of 88.25, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the business posted $0.88 earnings per share. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, research analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares in the company, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group upped their price objective on shares of ServiceNow from $885.00 to $920.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Oppenheimer upped their target price on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. BMO Capital Markets upped their target price on shares of ServiceNow from $630.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Mizuho upped their price objective on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays upped their price objective on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $780.37.

ServiceNow Company Profile

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.