Bessemer Group Inc. Has $90.63 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Bessemer Group Inc. boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 19.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,832 shares of the information technology services provider's stock after acquiring an additional 18,665 shares during the quarter. Bessemer Group Inc. owned 0.05% of ServiceNow worth $90,626,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after buying an additional 30 shares in the last quarter. IFP Advisors Inc raised its stake in shares of ServiceNow by 11.8% in the fourth quarter. IFP Advisors Inc now owns 1,949 shares of the information technology services provider's stock valued at $2,065,000 after acquiring an additional 206 shares during the last quarter. Rothschild Investment LLC boosted its holdings in shares of ServiceNow by 7.1% in the 4th quarter. Rothschild Investment LLC now owns 348 shares of the information technology services provider's stock worth $369,000 after acquiring an additional 23 shares in the last quarter. Pine Valley Investments Ltd Liability Co bought a new stake in ServiceNow during the 4th quarter worth approximately $219,000. Finally, FFT Wealth Management LLC increased its holdings in ServiceNow by 10.1% during the 4th quarter. FFT Wealth Management LLC now owns 1,109 shares of the information technology services provider's stock valued at $1,176,000 after purchasing an additional 102 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

NYSE NOW traded up $7.57 during trading on Thursday, reaching $1,012.73. 1,202,641 shares of the company's stock were exchanged, compared to its average volume of 1,482,807. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50 day moving average price of $975.77 and a 200-day moving average price of $968.70. The stock has a market capitalization of $209.62 billion, a P/E ratio of 137.60, a PEG ratio of 4.58 and a beta of 0.95. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the prior year, the business earned $3.41 EPS. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. Sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on NOW. Stifel Nicolaus boosted their price objective on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Robert W. Baird upped their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Guggenheim increased their price objective on shares of ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a report on Thursday, April 24th. BMO Capital Markets boosted their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Finally, TD Securities reiterated a "buy" rating and set a $1,100.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and an average price target of $1,065.32.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 248 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the transaction, the director now owns 10,643 shares in the company, valued at $10,740,277.02. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the transaction, the chief executive officer now owns 6,614 shares in the company, valued at $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock valued at $6,611,245 in the last three months. 0.38% of the stock is currently owned by company insiders.

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.