Keebeck Alpha LP Has $405,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Keebeck Alpha LP increased its position in ServiceNow, Inc. (NYSE:NOWGet Rating) by 53.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 728 shares of the information technology services provider’s stock after purchasing an additional 254 shares during the quarter. Keebeck Alpha LP’s holdings in ServiceNow were worth $405,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SevenOneSeven Capital Management increased its position in ServiceNow by 3.0% in the fourth quarter. SevenOneSeven Capital Management now owns 621 shares of the information technology services provider’s stock worth $403,000 after purchasing an additional 18 shares during the period. Means Investment CO. Inc. boosted its holdings in ServiceNow by 0.6% during the fourth quarter. Means Investment CO. Inc. now owns 2,842 shares of the information technology services provider’s stock worth $1,845,000 after buying an additional 18 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in ServiceNow by 1.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,316 shares of the information technology services provider’s stock worth $854,000 after buying an additional 18 shares during the last quarter. Financial Architects Inc boosted its holdings in ServiceNow by 5.9% during the first quarter. Financial Architects Inc now owns 378 shares of the information technology services provider’s stock worth $211,000 after buying an additional 21 shares during the last quarter. Finally, Equitable Holdings Inc. boosted its holdings in ServiceNow by 4.1% during the fourth quarter. Equitable Holdings Inc. now owns 565 shares of the information technology services provider’s stock worth $367,000 after buying an additional 22 shares during the last quarter. 87.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 2,822 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $438.75, for a total value of $1,238,152.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Nicholas Tzitzon sold 2,822 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $438.75, for a total value of $1,238,152.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 178 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $502.00, for a total value of $89,356.00. Following the completion of the sale, the general counsel now directly owns 9,293 shares of the company’s stock, valued at approximately $4,665,086. The disclosure for this sale can be found here. Insiders sold a total of 33,258 shares of company stock valued at $15,622,745 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company reduced their target price on ServiceNow from $600.00 to $550.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Stifel Nicolaus reduced their target price on ServiceNow from $650.00 to $550.00 in a report on Wednesday, May 25th. Canaccord Genuity Group reduced their target price on ServiceNow from $615.00 to $510.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. KeyCorp cut their price objective on ServiceNow from $567.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Finally, Sanford C. Bernstein initiated coverage on ServiceNow in a report on Tuesday, July 19th. They set an “outperform” rating and a $646.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $598.84.

ServiceNow Stock Performance

NYSE:NOW opened at $496.74 on Wednesday. The stock has a fifty day moving average price of $468.11 and a 200-day moving average price of $502.83. The company has a market cap of $100.34 billion, a price-to-earnings ratio of 545.87, a PEG ratio of 10.23 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a fifty-two week low of $406.47 and a fifty-two week high of $707.60.

ServiceNow (NYSE:NOWGet Rating) last issued its earnings results on Wednesday, July 27th. The information technology services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. ServiceNow had a return on equity of 7.22% and a net margin of 2.79%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 24.3% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 1.73 EPS for the current fiscal year.

ServiceNow Company Profile

(Get Rating)

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

Recommended Stories

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.