ServiceNow, Inc. (NYSE:NOW) Position Boosted by Newfound Research LLC

Newfound Research LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 22.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 92 shares of the information technology services provider’s stock after buying an additional 17 shares during the quarter. Newfound Research LLC’s holdings in ServiceNow were worth $57,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in ServiceNow by 3.1% during the first quarter. Principal Financial Group Inc. now owns 311,238 shares of the information technology services provider’s stock worth $155,653,000 after acquiring an additional 9,348 shares during the period. Verition Fund Management LLC acquired a new stake in shares of ServiceNow in the first quarter valued at approximately $304,000. B. Metzler seel. Sohn & Co. Holding AG increased its stake in shares of ServiceNow by 11.8% in the first quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 8,531 shares of the information technology services provider’s stock valued at $4,267,000 after purchasing an additional 902 shares during the period. Optiver Holding B.V. acquired a new stake in shares of ServiceNow in the first quarter valued at approximately $546,000. Finally, Childress Capital Advisors LLC increased its stake in shares of ServiceNow by 140.9% during the first quarter. Childress Capital Advisors LLC now owns 412 shares of the information technology services provider’s stock valued at $206,000 after acquiring an additional 241 shares during the period. 85.13% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently commented on NOW. Robert W. Baird raised their price objective on shares of ServiceNow from $580.00 to $650.00 and gave the company a “neutral” rating in a research note on Thursday, October 28th. KeyCorp raised their target price on shares of ServiceNow from $718.00 to $765.00 and gave the stock an “overweight” rating in a report on Thursday, October 28th. Barclays restated a “buy” rating on shares of ServiceNow in a report on Monday, November 1st. JMP Securities raised their target price on shares of ServiceNow from $639.00 to $705.00 and gave the stock a “market outperform” rating in a report on Monday, October 11th. Finally, FBN Securities raised their target price on shares of ServiceNow from $650.00 to $700.00 and gave the stock an “outperform” rating in a report on Thursday, October 28th. Three equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $724.48.

In related news, General Counsel Russell S. Elmer sold 1,777 shares of the business’s stock in a transaction that occurred on Wednesday, November 10th. The shares were sold at an average price of $676.98, for a total transaction of $1,202,993.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederic B. Luddy sold 16,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 6th. The shares were sold at an average price of $628.26, for a total transaction of $10,366,290.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,137 shares of company stock valued at $16,245,151. 0.35% of the stock is currently owned by insiders.

Shares of ServiceNow stock traded up $12.40 during trading on Thursday, hitting $649.31. 837,085 shares of the company’s stock traded hands, compared to its average volume of 1,320,568. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.13 and a quick ratio of 1.13. The firm’s fifty day moving average price is $662.43 and its 200 day moving average price is $592.42. ServiceNow, Inc. has a twelve month low of $448.27 and a twelve month high of $707.60. The company has a market cap of $129.21 billion, a PE ratio of 595.70, a PEG ratio of 17.00 and a beta of 0.98.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 27th. The information technology services provider reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.16. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. ServiceNow had a net margin of 3.99% and a return on equity of 9.31%. ServiceNow’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 1.41 earnings per share for the current year.

About ServiceNow

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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