Cloverfields Capital Group LP Has $2.75 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Cloverfields Capital Group LP raised its position in ServiceNow, Inc. (NYSE:NOWFree Report) by 3.4% during the fourth quarter, Holdings Channel reports. The firm owned 3,885 shares of the information technology services provider’s stock after purchasing an additional 129 shares during the period. Cloverfields Capital Group LP’s holdings in ServiceNow were worth $2,745,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Palo DS Manager LLC acquired a new position in shares of ServiceNow in the 4th quarter worth approximately $12,943,000. Adero Partners LLC lifted its position in shares of ServiceNow by 0.9% during the 4th quarter. Adero Partners LLC now owns 3,457 shares of the information technology services provider’s stock valued at $2,442,000 after acquiring an additional 31 shares during the period. Tradition Wealth Management LLC lifted its position in shares of ServiceNow by 15.4% during the 4th quarter. Tradition Wealth Management LLC now owns 748 shares of the information technology services provider’s stock valued at $528,000 after acquiring an additional 100 shares during the period. BOCHK Asset Management Ltd acquired a new position in shares of ServiceNow during the 4th quarter valued at $2,402,000. Finally, Clark Estates Inc. NY acquired a new position in shares of ServiceNow during the 4th quarter valued at $201,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NOW shares. Citigroup boosted their target price on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Wolfe Research restated an “outperform” rating and set a $830.00 price target on shares of ServiceNow in a research note on Friday, May 10th. UBS Group decreased their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, JMP Securities restated a “market outperform” rating and set a $825.00 price target on shares of ServiceNow in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $814.48.

Read Our Latest Analysis on ServiceNow

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 602 shares of ServiceNow stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the transaction, the insider now owns 3,619 shares in the company, valued at $2,785,725.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Paul John Smith sold 602 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $769.75, for a total transaction of $463,389.50. Following the completion of the transaction, the insider now owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frederic B. Luddy sold 598 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $741.92, for a total transaction of $443,668.16. Following the transaction, the director now directly owns 428 shares of the company’s stock, valued at approximately $317,541.76. The disclosure for this sale can be found here. Insiders sold 5,315 shares of company stock worth $3,846,512 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW traded up $13.64 during trading hours on Friday, reaching $656.93. 4,301,832 shares of the company were exchanged, compared to its average volume of 1,238,185. ServiceNow, Inc. has a 1 year low of $526.11 and a 1 year high of $815.32. The business’s 50 day simple moving average is $740.55 and its 200-day simple moving average is $734.54. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $134.67 billion, a P/E ratio of 70.26, a P/E/G ratio of 4.12 and a beta of 0.98.

ServiceNow (NYSE:NOWGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. On average, equities research analysts expect that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

About ServiceNow

(Free Report)

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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