23,247 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by Sarasin & Partners LLP

Sarasin & Partners LLP acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,247 shares of the information technology services provider's stock, valued at approximately $18,508,000.

A number of other large investors have also recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of ServiceNow in the fourth quarter worth about $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow in the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow in the fourth quarter worth about $32,000. FPC Investment Advisory Inc. raised its position in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 29 shares during the period. Finally, Noble Wealth Management PBC acquired a new position in shares of ServiceNow in the fourth quarter worth about $34,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the sale, the chief executive officer now directly owns 6,614 shares of the company's stock, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at approximately $4,431,636. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NOW has been the subject of several research analyst reports. William Blair restated an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. Evercore ISI upped their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Oppenheimer restated an "outperform" rating and set a $1,100.00 price target (up previously from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. Morgan Stanley upped their price target on shares of ServiceNow from $881.00 to $950.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Finally, Guggenheim increased their price objective on shares of ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and a consensus target price of $1,062.50.

ServiceNow Stock Up 1.1%

NOW stock traded up $11.11 during trading hours on Thursday, hitting $1,023.85. The company's stock had a trading volume of 367,064 shares, compared to its average volume of 1,488,274. The stock has a 50 day moving average price of $910.63 and a two-hundred day moving average price of $974.82. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12 month low of $676.19 and a 12 month high of $1,198.09. The company has a market capitalization of $211.92 billion, a PE ratio of 149.91, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the company earned $3.41 earnings per share. ServiceNow's revenue for the quarter was up 18.6% on a year-over-year basis. On average, equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow Company 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.