Jag Capital Management LLC Has $13.17 Million Holdings in ServiceNow, Inc. $NOW

Jag Capital Management LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,808 shares of the information technology services provider’s stock after buying an additional 137 shares during the quarter. ServiceNow comprises approximately 1.5% of Jag Capital Management LLC’s investment portfolio, making the stock its 25th biggest holding. Jag Capital Management LLC’s holdings in ServiceNow were worth $13,168,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow during the second quarter worth $30,000. Bogart Wealth LLC boosted its holdings in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow in the 1st quarter valued at about $26,000. Richardson Financial Services Inc. raised its position in shares of ServiceNow by 50.0% in the 2nd quarter. Richardson Financial Services Inc. now owns 33 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 11 shares during the period. Finally, WASHINGTON TRUST Co raised its position in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares during the period. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares in the company, valued at $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. The trade was a 36.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock worth $16,798,825 over the last three months. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NOW. Raymond James Financial increased their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Needham & Company LLC raised their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Barclays set a $1,210.00 target price on ServiceNow in a report on Thursday, July 24th. Citigroup increased their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, Guggenheim reaffirmed a “sell” rating and set a $724.00 price target on shares of ServiceNow in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,122.20.

ServiceNow Trading Up 3.9%

NYSE:NOW opened at $923.44 on Tuesday. The company has a market cap of $192.07 billion, a P/E ratio of 116.30, a price-to-earnings-growth ratio of 4.00 and a beta of 0.92. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The business has a 50 day moving average price of $909.24 and a two-hundred day moving average price of $933.88. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the firm earned $3.13 earnings per share. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.