5,496 Shares in ServiceNow, Inc. $NOW Acquired by Focused Alpha LLC

Focused Alpha LLC acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,496 shares of the information technology services provider’s stock, valued at approximately $737,000.

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of ServiceNow during the 2nd quarter worth about $9,536,615,000. Bank of New York Mellon Corp purchased a new stake in ServiceNow in the 2nd quarter valued at about $712,573,000. Legal & General Group Plc acquired a new position in ServiceNow in the second quarter valued at about $641,888,000. Bank of America Corp DE acquired a new position in ServiceNow in the second quarter valued at about $627,355,000. Finally, Deutsche Bank AG acquired a new position in ServiceNow in the second quarter valued at about $595,157,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NOW has been the subject of several research analyst reports. DA Davidson set a $170.00 target price on shares of ServiceNow and gave the stock a “buy” rating in a research note on Monday, July 20th. Needham & Company LLC boosted their price target on shares of ServiceNow from $115.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Evercore restated an “outperform” rating on shares of ServiceNow in a report on Tuesday, October 13th. Mizuho set a $170.00 price objective on shares of ServiceNow and gave the stock an “outperform” rating in a report on Thursday. Finally, Argus increased their price objective on shares of ServiceNow from $134.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.29.

Insider Activity

In other news, insider Paul Fipps sold 2,034 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $147.87, for a total transaction of $300,767.58. Following the completion of the transaction, the insider directly owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Chamberlain sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $135.50, for a total transaction of $365,850.00. Following the sale, the director owned 43,990 shares in the company, valued at $5,960,645. The trade was a 5.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 14,081 shares of company stock worth $1,937,904. 0.34% of the stock is currently owned by company insiders.

ServiceNow Price Performance

Shares of NOW opened at $145.30 on Tuesday. The company has a market cap of $150.24 billion, a P/E ratio of 74.41, a PEG ratio of 2.61 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $192.97. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average price is $135.56 and its 200 day moving average price is $114.01.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%. The company’s revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 2.22 earnings per share for the current fiscal year.

ServiceNow Company Profile

ServiceNow, Inc provides cloud-based software designed to help organizations digitize, automate and manage enterprise workflows. Its Now Platform connects people, processes and systems across departments, enabling customers to manage work through a centralized technology environment.

The company’s products and services address a range of business needs, including information technology service management, IT operations management, customer service management, human resources service delivery, security operations, risk and compliance, and application development.