ServiceNow Inc (NOW) is Kayak Investment Partners LLC’s 7th Largest Position

Kayak Investment Partners LLC lowered its position in ServiceNow Inc (NYSE:NOW) by 45.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,187 shares of the information technology services provider’s stock after selling 38,600 shares during the period. ServiceNow accounts for 6.5% of Kayak Investment Partners LLC’s portfolio, making the stock its 7th largest holding. Kayak Investment Partners LLC’s holdings in ServiceNow were worth $7,807,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Sands Capital Management LLC increased its holdings in ServiceNow by 5.6% in the fourth quarter. Sands Capital Management LLC now owns 8,070,993 shares of the information technology services provider’s stock worth $1,052,377,000 after buying an additional 426,311 shares during the last quarter. Federated Investors Inc. PA boosted its position in ServiceNow by 0.4% during the first quarter. Federated Investors Inc. PA now owns 1,525,710 shares of the information technology services provider’s stock worth $252,429,000 after purchasing an additional 5,946 shares during the period. OppenheimerFunds Inc. boosted its position in ServiceNow by 401.7% during the first quarter. OppenheimerFunds Inc. now owns 1,439,564 shares of the information technology services provider’s stock worth $238,176,000 after purchasing an additional 1,152,623 shares during the period. Fred Alger Management Inc. boosted its position in ServiceNow by 1.0% during the fourth quarter. Fred Alger Management Inc. now owns 1,123,832 shares of the information technology services provider’s stock worth $146,536,000 after purchasing an additional 11,397 shares during the period. Finally, Northern Trust Corp boosted its position in ServiceNow by 1.3% during the first quarter. Northern Trust Corp now owns 980,571 shares of the information technology services provider’s stock worth $162,235,000 after purchasing an additional 12,740 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

A number of equities research analysts have issued reports on the company. Macquarie upped their target price on ServiceNow from $165.00 to $172.00 and gave the stock an “outperform” rating in a research report on Thursday, April 26th. Raymond James upped their target price on ServiceNow from $190.00 to $202.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, May 8th. Canaccord Genuity upped their target price on ServiceNow from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, April 26th. Stifel Nicolaus upped their target price on ServiceNow from $150.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, April 26th. Finally, Zacks Investment Research cut ServiceNow from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 27th. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. ServiceNow has an average rating of “Buy” and an average price target of $174.44.

In related news, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $161.25, for a total value of $16,125,000.00. Following the completion of the transaction, the director now directly owns 195,076 shares of the company’s stock, valued at $31,456,005. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO David Schneider sold 2,372 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $168.70, for a total value of $400,156.40. Following the completion of the transaction, the executive now directly owns 39,703 shares of the company’s stock, valued at $6,697,896.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 480,656 shares of company stock valued at $82,147,437. 1.60% of the stock is owned by company insiders.

Shares of ServiceNow opened at $186.35 on Friday, MarketBeat.com reports. ServiceNow Inc has a one year low of $100.69 and a one year high of $187.39. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.19 and a current ratio of 1.19.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 25th. The information technology services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.37 by $0.19. The firm had revenue of $589.20 million during the quarter, compared to analysts’ expectations of $570.63 million. ServiceNow had a negative return on equity of 10.63% and a negative net margin of 4.65%. ServiceNow’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. sell-side analysts anticipate that ServiceNow Inc will post 0.13 EPS for the current fiscal year.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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