Sachetta LLC Acquires New Shares in ServiceNow, Inc. (NYSE:NOW)

Sachetta LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 49 shares of the information technology services provider’s stock, valued at approximately $35,000.

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

ServiceNow Trading Down 0.9 %

Shares of NOW opened at $770.43 on Thursday. The company has a market capitalization of $157.94 billion, a P/E ratio of 82.40, a P/E/G ratio of 4.87 and a beta of 0.98. ServiceNow, Inc. has a one year low of $494.13 and a one year high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50-day moving average price of $747.63 and a 200 day moving average price of $730.35.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. Sell-side analysts forecast that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on NOW. KeyCorp lowered their price target on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. JMP Securities reaffirmed a “market outperform” rating and set a $825.00 price target on shares of ServiceNow in a research note on Tuesday, May 7th. Citigroup upped their price objective on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Finally, Jefferies Financial Group upped their price target on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $808.73.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 602 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $769.75, for a total transaction of $463,389.50. Following the transaction, the insider now owns 3,619 shares of the company’s stock, valued at approximately $2,785,725.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 917 shares of company stock valued at $690,880 in the last quarter. Insiders own 0.25% of the company’s stock.

ServiceNow Company 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.