Stevens Capital Management LP Invests $883,000 in ServiceNow, Inc. (NYSE:NOW)

Stevens Capital Management LP bought a new position in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 1,250 shares of the information technology services provider’s stock, valued at approximately $883,000.

Other large investors have also recently made changes to their positions in the company. PFG Private Wealth Management LLC purchased a new position in shares of ServiceNow during the 3rd quarter worth about $28,000. AdvisorNet Financial Inc boosted its stake in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 32 shares during the period. Steward Financial Group LLC boosted its position in ServiceNow by 125.0% in the 3rd quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 35 shares during the period. Princeton Global Asset Management LLC purchased a new stake in ServiceNow in the 3rd quarter valued at about $35,000. Finally, Disciplined Equity Management Inc. purchased a new stake in ServiceNow in the 4th quarter valued at about $35,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Barclays increased their price target on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. Citigroup increased their price target on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. The Goldman Sachs Group increased their price target on shares of ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $900.00 price target on shares of ServiceNow in a report on Thursday. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $782.85.

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $30.04 during trading on Thursday, reaching $716.25. The company’s stock had a trading volume of 3,371,007 shares, compared to its average volume of 1,213,608. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm has a market cap of $147.10 billion, a PE ratio of 84.27, a P/E/G ratio of 4.68 and a beta of 0.97. The company has a 50-day moving average price of $761.32 and a two-hundred day moving average price of $706.74. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping the consensus estimate 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 in the previous year, the firm earned $0.88 EPS. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current year.

Insider Buying and Selling

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

About ServiceNow

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.