ServiceNow, Inc. (NYSE:NOW) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 111.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,769 shares of the information technology services provider’s stock after purchasing an additional 7,769 shares during the period. QRG Capital Management Inc.’s holdings in ServiceNow were worth $11,260,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow in the 4th quarter valued at $29,000. AdvisorNet Financial Inc raised its holdings in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the period. Disciplined Equity Management Inc. purchased a new stake in shares of ServiceNow in the 4th quarter valued at $35,000. Sachetta LLC purchased a new stake in shares of ServiceNow in the 4th quarter valued at $35,000. Finally, PFG Private Wealth Management LLC purchased a new stake in shares of ServiceNow in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $7.06 during trading hours on Tuesday, reaching $760.79. The stock had a trading volume of 991,986 shares, compared to its average volume of 1,281,303. The firm has a market cap of $155.96 billion, a price-to-earnings ratio of 82.12, a PEG ratio of 4.75 and a beta of 0.99. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $815.32. The firm has a 50-day moving average of $738.58 and a 200-day moving average of $746.89.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. Equities research analysts predict that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NOW. JMP Securities reiterated a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a report on Tuesday, May 7th. Stifel Nicolaus restated a “buy” rating and set a $820.00 price target on shares of ServiceNow in a report on Tuesday, July 2nd. Wells Fargo & Company upped their price target on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. William Blair restated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. Finally, KeyCorp cut their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $812.60.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 190 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares of the company’s stock, valued at approximately $2,163,527.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Nicholas Tzitzon sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $690.99, for a total value of $1,381,980.00. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The disclosure for this sale can be found here. Insiders sold a total of 5,530 shares of company stock valued at $3,997,012 in the last three months. 0.25% of the stock is currently owned by company insiders.

ServiceNow 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.