Zweig DiMenna Associates LLC Has $16.78 Million Position in ServiceNow, Inc. (NYSE:NOW)

Zweig DiMenna Associates LLC lessened its position in ServiceNow, Inc. (NYSE:NOW) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,766 shares of the information technology services provider’s stock after selling 1,340 shares during the period. ServiceNow makes up about 1.7% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 19th biggest holding. Zweig DiMenna Associates LLC’s holdings in ServiceNow were worth $16,784,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NOW. International Assets Investment Management LLC increased its position in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after buying an additional 1,183,739 shares in the last quarter. Swedbank AB acquired a new stake in shares of ServiceNow during the first quarter worth about $897,908,000. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in ServiceNow during the 2nd quarter worth approximately $218,786,000. Finally, Acadian Asset Management LLC lifted its stake in ServiceNow by 233.4% in the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after buying an additional 271,073 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the sale, the director now owns 10,767 shares of the company’s stock, valued at $8,850,474. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,467 shares of company stock valued at $4,450,447 in the last three months. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JMP Securities lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. Mizuho boosted their price target on ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Evercore ISI increased their price objective on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, KeyCorp boosted their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $970.22.

ServiceNow Stock Up 5.4 %

NOW opened at $956.40 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $880.60 and its 200 day simple moving average is $795.09. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $979.78. The stock has a market cap of $197.02 billion, a PE ratio of 172.95, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 earnings per share. As a group, research analysts expect that ServiceNow, Inc. will post 7.41 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.