Northwest & Ethical Investments L.P. Acquires 5,216 Shares of ServiceNow, Inc. (NYSE:NOW)

Northwest & Ethical Investments L.P. raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 37.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 19,324 shares of the information technology services provider’s stock after purchasing an additional 5,216 shares during the period. Northwest & Ethical Investments L.P.’s holdings in ServiceNow were worth $17,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC raised its position in ServiceNow by 4.1% in the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after buying an additional 30 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in ServiceNow by 41.5% during the first quarter. Citizens Financial Group Inc. RI now owns 975 shares of the information technology services provider’s stock worth $743,000 after buying an additional 286 shares during the last quarter. LRI Investments LLC purchased a new position in ServiceNow in the first quarter valued at approximately $88,000. Burney Co. raised its stake in ServiceNow by 184.6% in the 1st quarter. Burney Co. now owns 16,553 shares of the information technology services provider’s stock valued at $12,620,000 after acquiring an additional 10,737 shares during the period. Finally, Dock Street Asset Management Inc. grew its stake in ServiceNow by 3.6% in the 1st quarter. Dock Street Asset Management Inc. now owns 18,357 shares of the information technology services provider’s stock valued at $13,995,000 after buying an additional 634 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

NYSE NOW traded down $28.67 during trading hours on Thursday, reaching $1,041.40. The company’s stock had a trading volume of 977,141 shares, compared to its average volume of 1,284,065. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,072.84. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $214.53 billion, a price-to-earnings ratio of 161.96, a PEG ratio of 6.04 and a beta of 0.98. The firm’s 50-day moving average price is $958.40 and its 200-day moving average price is $842.41.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping 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 net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,329 shares of company stock worth $20,547,241. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

NOW has been the topic of several recent analyst reports. KeyCorp raised their price target on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Jefferies Financial Group upped their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their target price on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Evercore ISI lifted their price objective on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays lifted their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $989.07.

ServiceNow Company Profile

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.