Waterloo Capital L.P. Sells 334 Shares of ServiceNow, Inc. (NYSE:NOW)

Waterloo Capital L.P. lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 15.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,856 shares of the information technology services provider’s stock after selling 334 shares during the period. Waterloo Capital L.P.’s holdings in ServiceNow were worth $1,460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. Blair William & Co. IL increased its position in ServiceNow by 1.4% in the 2nd quarter. Blair William & Co. IL now owns 305,389 shares of the information technology services provider’s stock valued at $240,241,000 after acquiring an additional 4,287 shares in the last quarter. Zega Financial LLC increased its holdings in shares of ServiceNow by 39.7% in the second quarter. Zega Financial LLC now owns 1,172 shares of the information technology services provider’s stock valued at $922,000 after purchasing an additional 333 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in ServiceNow by 5.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,192 shares of the information technology services provider’s stock worth $16,632,000 after purchasing an additional 1,049 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in ServiceNow by 22.0% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 16,559 shares of the information technology services provider’s stock worth $13,026,000 after buying an additional 2,991 shares in the last quarter. Finally, Argent Trust Co increased its stake in shares of ServiceNow by 5.4% in the 2nd quarter. Argent Trust Co now owns 3,315 shares of the information technology services provider’s stock valued at $2,608,000 after buying an additional 170 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NOW. BMO Capital Markets upped their price target on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their target price on shares of ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Guggenheim reissued a “sell” rating and set a $640.00 price target on shares of ServiceNow in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird upped their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $855.44.

ServiceNow Price Performance

NOW stock opened at $891.59 on Thursday. The stock has a 50-day moving average price of $815.58 and a two-hundred day moving average price of $769.06. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $899.71. The stock has a market cap of $182.78 billion, a PE ratio of 95.36, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the company earned $0.77 earnings per share. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. Equities analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock valued at $5,608,936 in the last ninety days. 0.25% of the stock is currently owned by corporate 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.