NorthCrest Asset Manangement LLC Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

NorthCrest Asset Manangement LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 13.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,570 shares of the information technology services provider’s stock after purchasing an additional 187 shares during the period. NorthCrest Asset Manangement LLC’s holdings in ServiceNow were worth $1,251,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in ServiceNow by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider’s stock valued at $20,353,517,000 after acquiring an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD lifted its position in ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after acquiring an additional 509,467 shares during the period. FMR LLC lifted its position in ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after acquiring an additional 272,506 shares during the period. Geode Capital Management LLC lifted its position in ServiceNow by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock valued at $4,560,890,000 after acquiring an additional 100,670 shares during the period. Finally, GAMMA Investing LLC raised its holdings in ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock worth $2,141,108,000 after buying an additional 2,686,291 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,435,554.47. This represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider now directly owns 3,000 shares in the company, valued at approximately $3,060,000. This represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock worth $6,611,245 over the last 90 days. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NOW. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ServiceNow in a report on Thursday, April 24th. Raymond James decreased their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Monday, June 9th. Evercore ISI lifted their target price on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $1,100.00 target price (up from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,062.50.

ServiceNow Stock Performance

NOW opened at $987.71 on Friday. The firm has a market cap of $204.44 billion, a P/E ratio of 144.61, a PEG ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a 50 day simple moving average of $944.56 and a two-hundred day simple moving average of $972.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business earned $3.41 earnings per share. ServiceNow’s revenue for the quarter was up 18.6% on a year-over-year basis. Equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share 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.