10,029 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by Jag Capital Management LLC

Jag Capital Management LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,029 shares of the information technology services provider's stock, valued at approximately $10,632,000. ServiceNow comprises 1.5% of Jag Capital Management LLC's investment portfolio, making the stock its 26th biggest holding.

Several other large investors have also bought and sold shares of NOW. Polymer Capital Management HK LTD grew its position in shares of ServiceNow by 57.0% during the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock worth $2,416,000 after buying an additional 981 shares during the period. Union Bancaire Privee UBP SA acquired a new position in ServiceNow during the fourth quarter valued at approximately $48,802,000. Dock Street Asset Management Inc. increased its stake in ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock valued at $35,147,000 after purchasing an additional 1,105 shares in the last quarter. Avidian Wealth Enterprises LLC increased its stake in ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock valued at $436,000 after purchasing an additional 138 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock worth $2,565,000 after purchasing an additional 765 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares of the company's stock, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock valued at $20,050,076 in the last three months. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NOW has been the subject of a number of recent analyst reports. Mizuho upped their price objective on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Piper Sandler lifted their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Guggenheim reissued a "sell" rating and set a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Needham & Company LLC lifted their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Finally, Truist Financial upped their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a "hold" rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $1,129.72.

ServiceNow Stock Performance

Shares of NOW traded up $10.25 during mid-day trading on Wednesday, reaching $916.34. The company's stock had a trading volume of 1,520,464 shares, compared to its average volume of 1,664,521. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The business has a 50-day simple moving average of $1,030.51 and a two-hundred day simple moving average of $985.06. The stock has a market cap of $188.77 billion, a P/E ratio of 134.16, a PEG ratio of 4.51 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated a share buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

ServiceNow Company 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.