Symmetry Partners LLC Invests $216,000 in ServiceNow, Inc. $NOW

Symmetry Partners LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 210 shares of the information technology services provider’s stock, valued at approximately $216,000.

Several other institutional investors have also modified their holdings of the stock. Global X Japan Co. Ltd. acquired a new stake in ServiceNow during the 2nd quarter worth $30,000. Bogart Wealth LLC increased its position in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow in the 1st quarter valued at about $26,000. WASHINGTON TRUST Co boosted its position in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 31 shares during the period. Finally, Dagco Inc. purchased a new position in ServiceNow during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NOW. Wall Street Zen cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Guggenheim reissued a “sell” rating and set a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. DA Davidson upped their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Jefferies Financial Group raised their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,200.00 price objective on shares of ServiceNow in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $1,122.20.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This trade represents a 46.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the transaction, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. The trade was a 28.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,976 shares of company stock valued at $17,049,775. Company insiders own 0.38% of the company’s stock.

ServiceNow Trading Up 2.0%

Shares of NOW opened at $936.76 on Friday. The firm’s 50-day moving average is $919.74 and its two-hundred day moving average is $926.99. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $194.85 billion, a P/E ratio of 117.98, a PEG ratio of 4.22 and a beta of 0.91.

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

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.