Parkwood LLC Acquires 1,659 Shares of ServiceNow Inc (NOW)

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Parkwood LLC grew its holdings in shares of ServiceNow Inc (NYSE:NOW) by 69.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,059 shares of the information technology services provider’s stock after purchasing an additional 1,659 shares during the period. Parkwood LLC’s holdings in ServiceNow were worth $1,001,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Berkshire Capital Holdings Inc. grew its position in shares of ServiceNow by 889.5% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 41,460 shares of the information technology services provider’s stock worth $7,382,000 after buying an additional 37,270 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of ServiceNow by 17.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 22,134 shares of the information technology services provider’s stock worth $3,941,000 after buying an additional 3,259 shares in the last quarter. Next Capital Management LLC acquired a new position in shares of ServiceNow during the fourth quarter worth about $32,000. Advisors Asset Management Inc. grew its position in shares of ServiceNow by 26.6% during the fourth quarter. Advisors Asset Management Inc. now owns 20,609 shares of the information technology services provider’s stock worth $3,669,000 after buying an additional 4,325 shares in the last quarter. Finally, Roman Butler Fullerton & Co. acquired a new position in shares of ServiceNow during the fourth quarter worth about $518,000. Institutional investors own 94.56% of the company’s stock.

Shares of NYSE NOW opened at $265.03 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.13 and a quick ratio of 1.17. ServiceNow Inc has a twelve month low of $147.63 and a twelve month high of $275.20. The company has a market capitalization of $48.99 billion, a price-to-earnings ratio of 1,325.13, a PEG ratio of 19.95 and a beta of 1.45.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.10. ServiceNow had a positive return on equity of 1.64% and a negative net margin of 1.38%. The company had revenue of $788.93 million during the quarter, compared to analysts’ expectations of $768.09 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. The firm’s revenue for the quarter was up 33.9% on a year-over-year basis. As a group, sell-side analysts anticipate that ServiceNow Inc will post 0.48 earnings per share for the current year.

In other ServiceNow news, insider Patricia L. Wadors sold 3,830 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $232.77, for a total value of $891,509.10. Following the completion of the sale, the insider now owns 6,451 shares in the company, valued at $1,501,599.27. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Anita M. Sands sold 1,304 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $235.00, for a total value of $306,440.00. Following the completion of the sale, the director now owns 9,571 shares of the company’s stock, valued at approximately $2,249,185. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,965 shares of company stock valued at $22,894,811. 1.00% of the stock is owned by company insiders.

A number of brokerages have recently commented on NOW. Piper Jaffray Companies boosted their price objective on ServiceNow from $230.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Royal Bank of Canada boosted their price objective on ServiceNow to $270.00 and gave the stock a “top pick” rating in a research report on Thursday, April 25th. Northland Securities reissued a “buy” rating and set a $280.00 price objective on shares of ServiceNow in a research report on Thursday, May 2nd. Barclays boosted their price objective on ServiceNow from $235.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, Deutsche Bank upped their price target on ServiceNow from $285.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $268.24.

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About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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