Accent Capital Management LLC Makes New $1.78 Million Investment in ServiceNow, Inc. (NYSE:NOW)

Accent Capital Management LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,520 shares of the information technology services provider’s stock, valued at approximately $1,780,000. ServiceNow accounts for 1.4% of Accent Capital Management LLC’s holdings, making the stock its 16th largest holding.

Several other large investors have also recently added to or reduced their stakes in NOW. Argonautica Private Wealth Management Inc. increased its position in shares of ServiceNow by 1.0% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after purchasing an additional 13 shares during the period. Wealth Management Partners LLC grew its position in ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after acquiring an additional 14 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew its position in ServiceNow by 30.4% in the fourth 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. Trust Co. of Vermont grew its position in ServiceNow by 8.6% in the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after acquiring an additional 15 shares during the last quarter. Finally, Claro Advisors LLC grew its position in ServiceNow by 3.6% in the fourth quarter. Claro Advisors LLC now owns 428 shares of the information technology services provider’s stock valued at $302,000 after acquiring an additional 15 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NYSE NOW traded down $3.22 during trading on Monday, reaching $725.36. The company’s stock had a trading volume of 1,074,725 shares, compared to its average volume of 1,284,542. The stock has a market capitalization of $148.70 billion, a PE ratio of 77.58, a P/E/G ratio of 4.57 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a fifty day moving average of $726.49 and a 200 day moving average of $737.87. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $815.32.

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

Insider Activity

In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the transaction, the chief financial officer now directly owns 13,290 shares in the company, valued at approximately $9,819,715.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $738.88, for a total transaction of $1,329,984.00. Following the transaction, the chief financial officer now directly owns 13,290 shares in the company, valued at approximately $9,819,715.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, the insider now owns 3,010 shares in the company, valued at $2,163,527.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on NOW. KeyCorp decreased their target price on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. JMP Securities reissued a “market outperform” rating and set a $825.00 price target on shares of ServiceNow in a research note on Tuesday, May 7th. Morgan Stanley lifted their price target on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Wolfe Research reissued an “outperform” rating and set a $830.00 price target on shares of ServiceNow in a research note on Friday, May 10th. Finally, Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $814.48.

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.