Ballentine Partners LLC Grows Stock Position in ServiceNow, Inc. (NYSE:NOW)

Ballentine Partners LLC grew its position in ServiceNow, Inc. (NYSE:NOW) by 13.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,871 shares of the information technology services provider’s stock after buying an additional 351 shares during the quarter. Ballentine Partners LLC’s holdings in ServiceNow were worth $2,568,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Creekmur Asset Management LLC purchased a new position in ServiceNow during the first quarter worth approximately $25,000. Versant Capital Management Inc lifted 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 worth $27,000 after buying an additional 28 shares in the last quarter. EntryPoint Capital LLC lifted its position in ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares in the last quarter. Ridgewood Investments LLC purchased a new position in ServiceNow during the second quarter worth approximately $32,000. Finally, DT Investment Partners LLC lifted its position in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of ServiceNow stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,457,924. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total value of $652,848.00. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,457,924. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,467 shares of company stock valued at $4,450,447 in the last ninety days. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 0.6 %

NYSE:NOW opened at $950.85 on Friday. The firm has a market cap of $195.88 billion, a PE ratio of 171.94, a price-to-earnings-growth ratio of 5.04 and a beta of 0.99. The stock has a fifty day moving average price of $883.09 and a 200 day moving average price of $796.21. ServiceNow, Inc. has a 12-month low of $548.44 and a 12-month high of $979.78. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business posted $1.21 earnings per share. Sell-side analysts anticipate that ServiceNow, Inc. will post 7.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NOW. Wells Fargo & Company lifted their price objective on ServiceNow from $1,025.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Thursday. Sanford C. Bernstein lifted their price objective on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday. TD Cowen raised their target price on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada raised their target price on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Jefferies Financial Group raised their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $970.33.

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.