Tidal Investments LLC Buys 24,945 Shares of ServiceNow, Inc. (NYSE:NOW)

Tidal Investments LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 104.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,808 shares of the information technology services provider’s stock after purchasing an additional 24,945 shares during the period. Tidal Investments LLC’s holdings in ServiceNow were worth $43,653,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in ServiceNow in the third quarter valued at approximately $30,000. Ridgewood Investments LLC acquired a new stake in ServiceNow in the second quarter valued at approximately $32,000. DT Investment Partners LLC raised its holdings in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares during the last quarter. American Capital Advisory LLC purchased a new position in shares of ServiceNow in the second quarter worth $39,000. Finally, Semmax Financial Advisors Inc. purchased a new position in shares of ServiceNow in the second quarter worth $39,000. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock valued at $20,861,626 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on NOW. Sanford C. Bernstein raised their target price on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Scotiabank began coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective for the company. Citigroup lifted their price target on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JMP Securities upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Finally, Evercore ISI boosted their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,022.37.

ServiceNow Stock Down 0.7 %

NOW traded down $7.58 during trading on Thursday, hitting $1,139.60. 93,321 shares of the company’s stock traded hands, compared to its average volume of 1,276,796. The company’s 50 day simple moving average is $997.59 and its two-hundred day simple moving average is $866.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The stock has a market capitalization of $234.76 billion, a price-to-earnings ratio of 178.42, a PEG ratio of 6.45 and a beta of 0.99.

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

About ServiceNow

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.