Aigen Investment Management LP Invests $916,000 in ServiceNow, Inc. (NYSE:NOW)

Aigen Investment Management LP purchased a new stake in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,297 shares of the information technology services provider’s stock, valued at approximately $916,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOW. AdvisorNet Financial Inc lifted its holdings in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Disciplined Equity Management Inc. acquired a new stake in ServiceNow during the 4th quarter valued at $35,000. Sachetta LLC acquired a new stake in ServiceNow during the 4th quarter valued at $35,000. Fortitude Family Office LLC bought a new position in ServiceNow during the 4th quarter valued at $41,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its stake in ServiceNow by 30.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 14 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a research report on Wednesday, March 20th. Piper Sandler upped their price objective on shares of ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Finally, Citigroup increased their target price on shares of ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $808.73.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 125 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the transaction, the insider now owns 3,112 shares in the company, valued at approximately $2,263,606.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 917 shares of company stock valued at $690,880 over the last quarter. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Up 0.7 %

ServiceNow stock traded up $5.43 during mid-day trading on Wednesday, hitting $782.48. The company had a trading volume of 234,848 shares, compared to its average volume of 1,194,308. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $747.76 and its two-hundred day moving average price is $730.07. ServiceNow, Inc. has a 12 month low of $494.13 and a 12 month high of $815.32. The company has a market capitalization of $160.41 billion, a PE ratio of 83.61, a price-to-earnings-growth ratio of 4.86 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 6.49 earnings per share for the current fiscal year.

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.