BluePath Capital Management LLC Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

BluePath Capital Management LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 16.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,243 shares of the information technology services provider’s stock after purchasing an additional 177 shares during the quarter. BluePath Capital Management LLC’s holdings in ServiceNow were worth $1,263,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Polymer Capital Management HK LTD lifted its holdings in ServiceNow by 57.0% during the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after buying an additional 981 shares in the last quarter. AXA S.A. raised its stake in shares of ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after acquiring an additional 4,271 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 138 shares during the period. Venturi Wealth Management LLC grew its stake in ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after purchasing an additional 765 shares in the last quarter. Finally, HWG Holdings LP purchased a new stake in ServiceNow during the 2nd quarter worth about $2,679,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 2.3 %

NOW opened at $1,054.99 on Thursday. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The business has a 50 day moving average price of $1,066.34 and a two-hundred day moving average price of $927.52. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $217.33 billion, a PE ratio of 164.07, a P/E/G ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, research analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Activity

In other news, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 81 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total value of $82,339.74. Following the transaction, the general counsel now directly owns 6,843 shares in the company, valued at $6,956,183.22. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,276 shares of company stock valued at $20,535,115 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore ISI lifted their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their price objective on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. BMO Capital Markets lifted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Robert W. Baird increased their target price on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,071.39.

About ServiceNow

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.