Schroder Investment Management Group Buys 34,237 Shares of ServiceNow, Inc. $NOW

Key Points

• Schroder Investment Management Group increased its stake in ServiceNow (NYSE:NOW) by 8.2%, purchasing 34,237 shares in the quarter to hold 454,252 shares worth about $418.04 million (≈0.22% of the company).
• ServiceNow beat Q4 estimates with EPS $0.92 vs. $0.89 and revenue of $3.57 billion vs. $3.53 billion, representing revenue growth of 20.7% year-over-year.
• Analysts maintain a Moderate Buy consensus with an average price target of $192.06 (three Strong Buy, 31 Buy, six Hold, two Sell), and institutional investors own roughly 87.18% of the stock.

Schroder Investment Management Group increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 454,252 shares of the information technology services provider's stock after acquiring an additional 34,237 shares during the quarter. Schroder Investment Management Group owned about 0.22% of ServiceNow worth $418,039,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after purchasing an additional 30 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in ServiceNow by 4.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider's stock worth $861,000 after buying an additional 34 shares during the period. United Bank increased its stake in ServiceNow by 15.5% in the 2nd quarter. United Bank now owns 1,519 shares of the information technology services provider's stock worth $1,562,000 after buying an additional 204 shares in the last quarter. Modera Wealth Management LLC raised its holdings in ServiceNow by 6.5% during the second quarter. Modera Wealth Management LLC now owns 293 shares of the information technology services provider's stock valued at $301,000 after acquiring an additional 18 shares during the period. Finally, Fox Run Management L.L.C. raised its holdings in ServiceNow by 87.6% during the second quarter. Fox Run Management L.L.C. now owns 936 shares of the information technology services provider's stock valued at $962,000 after acquiring an additional 437 shares during the period. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Up 3.4%

NYSE NOW opened at $124.43 on Monday. The stock has a 50 day moving average price of $122.89 and a 200-day moving average price of $157.18. ServiceNow, Inc. has a one year low of $98.00 and a one year high of $211.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $130.15 billion, a P/E ratio of 74.60, a P/E/G ratio of 2.10 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. ServiceNow's revenue was up 20.7% on a year-over-year basis. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Kevin Thomas Mcbride sold 1,400 shares of the company's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $105.71, for a total transaction of $147,994.00. Following the sale, the insider directly owned 26,314 shares in the company, valued at $2,781,652.94. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the completion of the sale, the director directly owned 46,430 shares of the company's stock, valued at $4,697,323.10. The trade was a 3.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 16,237 shares of company stock worth $1,697,162. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 price objective on shares of ServiceNow in a research note on Thursday, January 29th. DA Davidson restated a "buy" rating and issued a $220.00 price target on shares of ServiceNow in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft set a $180.00 price objective on shares of ServiceNow in a report on Thursday, January 29th. Weiss Ratings reissued a "hold (c)" rating on shares of ServiceNow in a report on Thursday, January 22nd. Finally, Arete Research set a $200.00 target price on shares of ServiceNow in a research note on Tuesday, January 6th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $192.06.

ServiceNow Company Profile

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.

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