nVerses Capital LLC Has $984,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

nVerses Capital LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 266.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,100 shares of the information technology services provider’s stock after buying an additional 800 shares during the quarter. nVerses Capital LLC’s holdings in ServiceNow were worth $984,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NOW. First Affirmative Financial Network increased its holdings in ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares in the last quarter. Morling Financial Advisors LLC grew its holdings in ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after purchasing an additional 13 shares during the period. CX Institutional lifted its position in ServiceNow by 1.2% during the third quarter. CX Institutional now owns 1,089 shares of the information technology services provider’s stock worth $974,000 after acquiring an additional 13 shares during the last quarter. Optas LLC lifted its position in ServiceNow by 1.7% during the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after acquiring an additional 14 shares during the last quarter. Finally, Cedar Wealth Management LLC lifted its position in ServiceNow by 5.5% during the first quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after acquiring an additional 14 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Guggenheim reiterated a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a research report on Monday, July 8th. Citigroup lifted their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. JMP Securities lifted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday. Finally, Evercore ISI lifted their price objective on shares of ServiceNow from $850.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $908.12.

ServiceNow Price Performance

NYSE NOW traded down $0.08 during trading on Thursday, reaching $918.79. The company’s stock had a trading volume of 208,957 shares, compared to its average volume of 1,268,982. The stock has a market capitalization of $188.35 billion, a PE ratio of 99.56, a P/E/G ratio of 5.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a fifty day moving average of $869.98 and a 200 day moving average of $789.79. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $949.59.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the company earned $0.77 EPS. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. Analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is currently owned by company insiders.

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.