Gardner Lewis Asset Management L P Acquires 2,001 Shares of ServiceNow, Inc. (NYSE:NOW)

Gardner Lewis Asset Management L P increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 49.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,039 shares of the information technology services provider’s stock after purchasing an additional 2,001 shares during the quarter. ServiceNow accounts for 1.3% of Gardner Lewis Asset Management L P’s holdings, making the stock its 28th biggest position. Gardner Lewis Asset Management L P’s holdings in ServiceNow were worth $4,751,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. CCLA Investment Management lifted its holdings in shares of ServiceNow by 1.1% in the second quarter. CCLA Investment Management now owns 121,186 shares of the information technology services provider’s stock valued at $93,938,000 after purchasing an additional 1,280 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its stake in ServiceNow by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,826 shares of the information technology services provider’s stock valued at $14,810,000 after acquiring an additional 95 shares in the last quarter. Blair William & Co. IL boosted its position in ServiceNow by 1.4% during the 2nd quarter. Blair William & Co. IL now owns 305,389 shares of the information technology services provider’s stock worth $240,241,000 after acquiring an additional 4,287 shares during the last quarter. Zega Financial LLC grew its stake in shares of ServiceNow by 39.7% during the 2nd quarter. Zega Financial LLC now owns 1,172 shares of the information technology services provider’s stock worth $922,000 after acquiring an additional 333 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of ServiceNow by 5.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,192 shares of the information technology services provider’s stock valued at $16,632,000 after purchasing an additional 1,049 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other ServiceNow news, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total transaction of $110,970.00. Following the completion of the transaction, the director now owns 10,767 shares of the company’s stock, valued at $8,850,474. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 11,490 shares in the company, valued at $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 three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 0.6 %

NOW stock opened at $886.77 on Wednesday. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $899.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The company’s 50-day simple moving average is $812.61 and its 200 day simple moving average is $768.20. The company has a market capitalization of $181.79 billion, a PE ratio of 94.84, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on NOW shares. Truist Financial increased their target price on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Piper Sandler raised their price objective on ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $835.00 target price on shares of ServiceNow in a report on Tuesday, July 23rd. Citigroup raised their price target on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Robert W. Baird upped their price objective on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $855.44.

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.