ServiceNow, Inc. (NYSE:NOW) Holdings Trimmed by Sarasin & Partners LLP

Sarasin & Partners LLP decreased its stake in ServiceNow, Inc. (NYSE:NOW) by 22.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 150,763 shares of the information technology services provider’s stock after selling 43,847 shares during the quarter. Sarasin & Partners LLP owned 0.07% of ServiceNow worth $114,942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of NOW. Algert Global LLC acquired a new position in shares of ServiceNow in the 3rd quarter valued at $310,000. Cary Street Partners Investment Advisory LLC lifted its stake in ServiceNow by 19.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 370 shares of the information technology services provider’s stock worth $207,000 after acquiring an additional 59 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in ServiceNow in the 3rd quarter worth about $227,000. Parkside Financial Bank & Trust lifted its stake in ServiceNow by 23.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 610 shares of the information technology services provider’s stock worth $341,000 after acquiring an additional 114 shares in the last quarter. Finally, Operose Advisors LLC purchased a new stake in ServiceNow in the 3rd quarter worth about $62,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a research note on Tuesday, May 7th. Jefferies Financial Group increased their price objective on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research note on Tuesday, June 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 price target on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $814.48.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 602 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the transaction, the insider now owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Frederic B. Luddy sold 598 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $741.92, for a total value of $443,668.16. Following the transaction, the director now owns 428 shares in the company, valued at $317,541.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul John Smith sold 602 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the transaction, the insider now owns 3,619 shares in the company, valued at approximately $2,785,725.25. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock worth $3,997,012 in the last 90 days. 0.25% of the stock is owned by company insiders.

ServiceNow Price Performance

Shares of ServiceNow stock traded up $2.96 during midday trading on Wednesday, hitting $757.77. 193,334 shares of the company were exchanged, compared to its average volume of 1,275,845. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $155.34 billion, a P/E ratio of 81.06, a PEG ratio of 4.73 and a beta of 0.96. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $815.32. The firm has a 50 day simple moving average of $723.87 and a 200-day simple moving average of $739.98.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.41 by $0.41. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. Research analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

About ServiceNow

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.