Burns Matteson Capital Management LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

by · The Markets Daily

Burns Matteson Capital Management LLC bought a new position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) during the third quarter, according to its most recent filing with the SEC. The fund bought 395 shares of the information technology services provider’s stock, valued at approximately $353,000.

Other institutional investors also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new position in ServiceNow during the first quarter valued at $25,000. Versant Capital Management Inc raised its position in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $29,000. EntryPoint Capital LLC grew its stake in ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in ServiceNow during the 2nd quarter valued at $32,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. BMO Capital Markets raised their target price on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Thursday. Evercore ISI lifted their price target on shares of ServiceNow from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group upped their price objective on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday. Guggenheim restated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. Finally, Citigroup increased their price target on shares of ServiceNow from $909.00 to $911.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $880.04.

Read Our Latest Research Report on ServiceNow

ServiceNow Price Performance

NYSE NOW traded down $6.04 on Friday, reaching $938.59. 854,087 shares of the company’s stock traded hands, compared to its average volume of 1,280,261. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $949.00. The stock has a market cap of $192.41 billion, a PE ratio of 100.38, a P/E/G ratio of 5.63 and a beta of 0.99. The stock has a 50-day simple moving average of $861.16 and a 200 day simple moving average of $786.18. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW – Get Free Report) last released its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. As a group, research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

About ServiceNow

(Free Report)

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.

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