ServiceNow, Inc. (NYSE:NOW) Shares Bought by DT Investment Partners LLC

DT Investment Partners LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 77.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39 shares of the information technology services provider’s stock after acquiring an additional 17 shares during the quarter. DT Investment Partners LLC’s holdings in ServiceNow were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares in the last quarter. Swedbank AB acquired a new position in ServiceNow during the 1st quarter worth approximately $897,908,000. Vanguard Group Inc. boosted its holdings in ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares during the period. AustralianSuper Pty Ltd acquired a new stake in ServiceNow in the second quarter valued at approximately $218,786,000. Finally, Acadian Asset Management LLC raised its stake in shares of ServiceNow by 233.4% during 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 purchasing an additional 271,073 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of NOW opened at $950.85 on Friday. ServiceNow, Inc. has a 52-week low of $548.44 and a 52-week high of $979.78. The firm has a market capitalization of $195.88 billion, a PE ratio of 171.94, a P/E/G ratio of 5.04 and a beta of 0.99. The firm has a 50-day moving average price of $883.09 and a 200 day moving average price of $796.21. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17.

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

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction 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 of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,467 shares of company stock valued at $4,450,447. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NOW. Deutsche Bank Aktiengesellschaft upped their target price on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Needham & Company LLC raised their target price on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus boosted their price target on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday. JMP Securities raised their price objective 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. Finally, Sanford C. Bernstein lifted their price objective on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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.