HMS Capital Management LLC Has $791,000 Stake in ServiceNow, Inc. (NYSE:NOW)

HMS Capital Management LLC decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 884 shares of the information technology services provider’s stock after selling 64 shares during the quarter. HMS Capital Management LLC’s holdings in ServiceNow were worth $791,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NOW. Quent Capital LLC boosted its stake in ServiceNow by 4.1% during the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after purchasing an additional 30 shares during the period. Csenge Advisory Group boosted its stake in ServiceNow by 2.5% during the 1st quarter. Csenge Advisory Group now owns 794 shares of the information technology services provider’s stock valued at $605,000 after purchasing an additional 19 shares during the period. Valley Wealth Managers Inc. bought a new stake in ServiceNow during the 1st quarter valued at approximately $370,000. Texas Permanent School Fund Corp lifted its position in shares of ServiceNow by 0.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 42,375 shares of the information technology services provider’s stock worth $32,307,000 after acquiring an additional 180 shares during the period. Finally, Mitchell Capital Management Co. bought a new stake in shares of ServiceNow in the 1st quarter worth approximately $6,194,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 1.8 %

Shares of NYSE NOW opened at $971.47 on Wednesday. The company’s fifty day moving average is $902.22 and its 200-day moving average is $807.88. The stock has a market cap of $200.12 billion, a price-to-earnings ratio of 151.08, a P/E/G ratio of 5.41 and a beta of 0.98. ServiceNow, Inc. has a twelve month low of $602.45 and a twelve month high of $979.78. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. Equities research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the transaction, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 187 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now directly owns 3,779 shares in the company, valued at $3,006,496.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,530 shares of company stock valued at $2,939,955 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Canaccord Genuity Group raised their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Piper Sandler raised their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their target price on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC raised their target price on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $970.33.

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.