Sarasin & Partners LLP Takes Position in ServiceNow, Inc. (NYSE:NOW)

Sarasin & Partners LLP acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 74,832 shares of the information technology services provider's stock, valued at approximately $59,577,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOW. GAMMA Investing LLC raised its holdings in ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after buying an additional 2,686,291 shares during the period. Norges Bank purchased a new stake in ServiceNow in the 4th quarter valued at about $2,603,360,000. Proficio Capital Partners LLC raised its holdings in ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after buying an additional 666,383 shares during the period. Alphinity Investment Management Pty Ltd purchased a new stake in ServiceNow in the 4th quarter valued at about $682,468,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after buying an additional 509,467 shares during the period. 87.18% of the stock is currently 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 stock was sold at an average price of $1,012.01, for a total value 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 approximately $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at $2,435,554.47. The trade was a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock worth $6,611,245 over the last 90 days. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on NOW shares. UBS Group reaffirmed a "buy" rating and issued a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Scotiabank set a $1,100.00 target price on ServiceNow and gave the company an "outperform" rating in a research report on Wednesday, May 7th. TD Securities reaffirmed a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. Wall Street Zen downgraded ServiceNow from a "buy" rating to a "hold" rating in a research report on Monday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $1,048.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $6.13 during trading hours on Wednesday, hitting $1,003.66. 741,971 shares of the company were exchanged, compared to its average volume of 1,482,236. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $928.22 and a 200-day moving average of $974.13. The stock has a market capitalization of $207.74 billion, a price-to-earnings ratio of 146.95, a P/E/G ratio of 4.51 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the prior year, the business earned $3.41 earnings per share. The company's quarterly revenue was up 18.6% compared to the same quarter last year. As a group, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.