Walleye Capital LLC Purchases 2,507 Shares of ServiceNow, Inc. (NYSE:NOW)

Walleye Capital LLC lifted its position in ServiceNow, Inc. (NYSE:NOWGet Rating) by 54.8% during the 4th quarter, HoldingsChannel reports. The firm owned 7,084 shares of the information technology services provider’s stock after acquiring an additional 2,507 shares during the quarter. Walleye Capital LLC’s holdings in ServiceNow were worth $4,598,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC bought a new stake in shares of ServiceNow in the fourth quarter worth about $25,000. Eagle Bay Advisors LLC increased its holdings in shares of ServiceNow by 75.0% in the third quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 18 shares during the last quarter. AHL Investment Management Inc. bought a new stake in shares of ServiceNow in the fourth quarter worth about $35,000. Lee Financial Co increased its holdings in shares of ServiceNow by 671.4% in the fourth quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 47 shares during the last quarter. Finally, Delos Wealth Advisors LLC bought a new stake in shares of ServiceNow in the fourth quarter worth about $40,000. 87.20% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on the company. Royal Bank of Canada reduced their price objective on ServiceNow from $700.00 to $660.00 and set an “outperform” rating on the stock in a research note on Monday, April 25th. UBS Group reduced their price objective on ServiceNow to $570.00 in a research note on Wednesday. BMO Capital Markets reduced their price objective on ServiceNow from $635.00 to $570.00 in a research note on Wednesday, April 27th. Cowen reduced their price objective on ServiceNow from $725.00 to $695.00 in a research note on Thursday, April 28th. Finally, Citigroup boosted their price objective on ServiceNow from $623.00 to $656.00 in a research note on Thursday, April 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow currently has an average rating of “Buy” and an average price target of $638.59.

Shares of NYSE NOW traded up $21.42 during mid-day trading on Friday, hitting $476.29. The stock had a trading volume of 1,950,368 shares, compared to its average volume of 1,838,996. ServiceNow, Inc. has a twelve month low of $406.47 and a twelve month high of $707.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $95.48 billion, a PE ratio of 432.99, a PEG ratio of 8.35 and a beta of 1.09. The company has a 50 day moving average of $495.54 and a two-hundred day moving average of $560.36.

ServiceNow (NYSE:NOWGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The information technology services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.34 by $0.13. ServiceNow had a net margin of 3.56% and a return on equity of 8.66%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. Equities research analysts predict that ServiceNow, Inc. will post 1.8 EPS for the current fiscal year.

In related news, insider Paul John Smith sold 412 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $427.17, for a total value of $175,994.04. Following the transaction, the insider now directly owns 1,755 shares of the company’s stock, valued at approximately $749,683.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Chirantan Jitendra Desai sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $575.44, for a total transaction of $2,877,200.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,370 shares of company stock worth $8,436,928. Corporate insiders own 0.35% of the company’s stock.

ServiceNow Profile (Get Rating)

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

Featured Stories

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOWGet Rating).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.