Catalina Capital Group LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Catalina Capital Group LLC purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 576 shares of the information technology services provider’s stock, valued at approximately $439,000.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after buying an additional 122,577 shares during the period. Jennison Associates LLC lifted its stake in shares of ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after purchasing an additional 53,719 shares in the last quarter. Norges Bank acquired a new stake in ServiceNow during the 4th quarter worth approximately $1,648,259,000. Massachusetts Financial Services Co. MA raised its holdings in ServiceNow by 3.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after buying an additional 81,028 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in ServiceNow by 18.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after buying an additional 271,153 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

NOW has been the topic of several recent research reports. Jefferies Financial Group lifted their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Wells Fargo & Company upped their target price on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Stifel Nicolaus reiterated a “buy” rating and set a $820.00 target price on shares of ServiceNow in a report on Tuesday, July 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a research report on Tuesday, May 7th. Finally, Robert W. Baird lifted their price target on shares of ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $812.60.

Insider Activity

In other news, insider Paul John Smith sold 190 shares of ServiceNow stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the transaction, the insider now directly owns 3,010 shares in the company, valued at approximately $2,163,527.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now owns 15,892 shares in the company, valued at $11,124,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul John Smith sold 190 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, the insider now directly 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 ninety days, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Performance

Shares of NYSE NOW traded down $1.21 during mid-day trading on Wednesday, hitting $742.80. The company had a trading volume of 1,498,584 shares, compared to its average volume of 1,291,384. The stock has a market cap of $152.27 billion, a price-to-earnings ratio of 79.44, a PEG ratio of 4.80 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $815.32. 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’s 50 day simple moving average is $734.70 and its two-hundred day simple moving average is $745.39.

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, beating 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 for the quarter, compared to the consensus estimate of $2.59 billion. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

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.