Eventide Asset Management LLC Buys 3,432 Shares of ServiceNow, Inc. (NYSE:NOW)

Eventide Asset Management LLC raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 161.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,552 shares of the information technology services provider’s stock after buying an additional 3,432 shares during the quarter. Eventide Asset Management LLC’s holdings in ServiceNow were worth $4,966,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of ServiceNow in the third quarter worth approximately $30,000. Ridgewood Investments LLC purchased a new stake in shares of ServiceNow during the second quarter valued at approximately $32,000. DT Investment Partners LLC increased its position in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. Finally, American Capital Advisory LLC purchased a new position in ServiceNow in the 2nd quarter worth approximately $39,000. 87.18% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Anita M. Sands sold 2,229 shares of the stock in a transaction dated Monday, November 25th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 313 shares of the business’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 value of $333,219.80. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,884,725.40. The trade was a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,329 shares of company stock worth $20,547,241. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

NOW has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Scotiabank began coverage on shares of ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target on the stock. UBS Group increased their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Robert W. Baird lifted their target price on shares of ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada increased their price target on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $989.07.

ServiceNow Trading Up 0.9 %

NOW stock opened at $1,050.62 on Friday. The company has a market capitalization of $216.43 billion, a price-to-earnings ratio of 163.39, a PEG ratio of 5.98 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,072.84. The business has a 50 day simple moving average of $963.10 and a two-hundred day simple moving average of $846.02.

ServiceNow (NYSE:NOW) last announced its quarterly 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 company had revenue of $2.80 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. Research analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

ServiceNow 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.