Royal London Asset Management Ltd. grew its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 399.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 848,587 shares of the information technology services provider's stock after acquiring an additional 678,718 shares during the period. Royal London Asset Management Ltd. owned 0.08% of ServiceNow worth $129,995,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock valued at $15,619,771,000 after acquiring an additional 81,752,460 shares during the period. Geode Capital Management LLC lifted its stake in shares of ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider's stock worth $3,591,425,000 after buying an additional 18,854,775 shares during the last quarter. Norges Bank bought a new stake in shares of ServiceNow during the 4th quarter worth about $2,020,992,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in ServiceNow by 417.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,004,910 shares of the information technology services provider's stock valued at $2,145,412,000 after buying an additional 11,295,806 shares during the last quarter. Finally, Capital International Investors grew its stake in ServiceNow by 396.0% in the 4th quarter. Capital International Investors now owns 10,393,373 shares of the information technology services provider's stock valued at $1,592,310,000 after buying an additional 8,297,818 shares during the last quarter. 87.18% of the stock is owned by institutional investors.
More ServiceNow News
Here are the key news stories impacting ServiceNow this week:
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. Benchmark initiated coverage on shares of ServiceNow in a research report on Wednesday, April 1st. They set a "buy" rating and a $125.00 price objective for the company. KeyCorp set a $85.00 target price on ServiceNow and gave the stock an "underweight" rating in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 price target on ServiceNow in a report on Thursday, April 23rd. JPMorgan Chase & Co. reduced their price target on ServiceNow from $195.00 to $145.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group decreased their price objective on ServiceNow from $188.00 to $163.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $141.85.
View Our Latest Research Report on NOW
Insiders Place Their Bets
In related news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider directly owned 12,072 shares of the company's stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anita M. Sands sold 16,445 shares of the company's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the transaction, the director owned 30,090 shares of the company's stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 28,071 shares of company stock worth $2,529,956. 0.34% of the stock is owned by company insiders.
ServiceNow Stock Down 0.7%
NYSE NOW opened at $102.34 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market cap of $105.51 billion, a price-to-earnings ratio of 60.99, a PEG ratio of 1.70 and a beta of 0.94. The company has a 50 day moving average of $99.80 and a 200-day moving average of $120.05. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48.
ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the business posted $0.81 earnings per share. The firm's quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts expect that ServiceNow, Inc. will post 2.35 earnings per share for the current fiscal year.
ServiceNow Company Profile
(
Free Report)
ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.
The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.
Further Reading
Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).
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