Solstein Capital LLC Acquires 42 Shares of ServiceNow, Inc. $NOW

Solstein Capital LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 60.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112 shares of the information technology services provider’s stock after buying an additional 42 shares during the quarter. Solstein Capital LLC’s holdings in ServiceNow were worth $115,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Delta Investment Management LLC lifted its position in shares of ServiceNow by 1.2% during the 2nd quarter. Delta Investment Management LLC now owns 1,142 shares of the information technology services provider’s stock worth $1,174,000 after buying an additional 14 shares during the last quarter. Signature Wealth Management Group lifted its position in shares of ServiceNow by 1.9% during the 2nd quarter. Signature Wealth Management Group now owns 1,957 shares of the information technology services provider’s stock worth $2,012,000 after buying an additional 36 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of ServiceNow by 5.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 593,884 shares of the information technology services provider’s stock worth $610,550,000 after buying an additional 30,831 shares during the last quarter. Chilton Capital Management LLC lifted its position in shares of ServiceNow by 128.0% during the 2nd quarter. Chilton Capital Management LLC now owns 57 shares of the information technology services provider’s stock worth $59,000 after buying an additional 32 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of ServiceNow by 4.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 50,416 shares of the information technology services provider’s stock worth $51,832,000 after buying an additional 2,065 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the sale, the general counsel owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. The trade was a 36.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,737 shares of company stock valued at $16,798,825. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOW. Weiss Ratings restated a “hold (c)” rating on shares of ServiceNow in a research report on Saturday. Guggenheim reaffirmed a “sell” rating and issued a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. UBS Group lowered their target price on ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Wall Street Zen raised ServiceNow from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,124.17.

ServiceNow Trading Down 1.0%

Shares of NOW stock opened at $929.77 on Monday. The stock has a market cap of $193.39 billion, a price-to-earnings ratio of 117.10, a PEG ratio of 4.20 and a beta of 0.92. The stock has a 50-day moving average of $917.85 and a 200-day moving average of $943.26. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

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.