RPG Investment Advisory LLC Has $8.58 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

RPG Investment Advisory LLC grew its stake in ServiceNow, Inc. (NYSE:NOWGet Rating) by 47.8% during the first quarter, HoldingsChannel.com reports. The firm owned 15,400 shares of the information technology services provider’s stock after buying an additional 4,982 shares during the period. RPG Investment Advisory LLC’s holdings in ServiceNow were worth $8,576,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. TD Asset Management Inc. lifted its stake in shares of ServiceNow by 0.6% in the 1st quarter. TD Asset Management Inc. now owns 1,214,095 shares of the information technology services provider’s stock valued at $676,117,000 after purchasing an additional 6,894 shares during the period. Oak Grove Capital LLC raised its position in shares of ServiceNow by 3.2% in the 1st quarter. Oak Grove Capital LLC now owns 8,150 shares of the information technology services provider’s stock valued at $4,539,000 after acquiring an additional 250 shares during the period. San Luis Wealth Advisors LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at approximately $49,000. Childress Capital Advisors LLC raised its position in shares of ServiceNow by 41.0% in the 1st quarter. Childress Capital Advisors LLC now owns 523 shares of the information technology services provider’s stock valued at $291,000 after acquiring an additional 152 shares during the period. Finally, Ithaka Group LLC raised its position in shares of ServiceNow by 1.2% in the 1st quarter. Ithaka Group LLC now owns 84,260 shares of the information technology services provider’s stock valued at $46,924,000 after acquiring an additional 959 shares during the period. Institutional investors and hedge funds own 87.20% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock traded down $8.13 during trading on Wednesday, reaching $488.61. 26,659 shares of the company’s stock were exchanged, compared to its average volume of 1,818,873. ServiceNow, Inc. has a twelve month low of $406.47 and a twelve month high of $707.60. The firm’s fifty day moving average price is $468.11 and its 200-day moving average price is $502.83. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $98.70 billion, a PE ratio of 545.87, a PEG ratio of 10.23 and a beta of 0.94.

ServiceNow (NYSE:NOWGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. ServiceNow had a net margin of 2.79% and a return on equity of 7.22%. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 earnings per share. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 1.73 EPS for the current year.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of analyst reports. Mizuho cut their price target on shares of ServiceNow from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. TheStreet lowered ServiceNow from a “b-” rating to a “c+” rating in a research report on Tuesday, April 26th. Barclays cut their price objective on ServiceNow from $560.00 to $495.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Citigroup lowered their target price on ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of ServiceNow from $700.00 to $680.00 in a report on Thursday, April 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $598.84.

Insider Buying and Selling

In other ServiceNow news, insider Lara Caimi sold 726 shares of the stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $474.48, for a total value of $344,472.48. Following the transaction, the insider now directly owns 99 shares of the company’s stock, valued at approximately $46,973.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Lara Caimi sold 726 shares of the business’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $474.48, for a total value of $344,472.48. Following the completion of the sale, the insider now directly owns 99 shares in the company, valued at approximately $46,973.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Chirantan Jitendra Desai sold 7,000 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $477.52, for a total value of $3,342,640.00. Following the transaction, the chief operating officer now owns 38,980 shares in the company, valued at approximately $18,613,729.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,258 shares of company stock valued at $15,622,745. Company insiders own 0.28% of the company’s stock.

About ServiceNow

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ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

See Also

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOWGet Rating).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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