ServiceNow, Inc. (NYSE:NOW) Stake Lifted by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 3,673.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,679 shares of the information technology services provider's stock after purchasing an additional 16,237 shares during the quarter. ServiceNow accounts for 0.9% of Y Intercept Hong Kong Ltd's holdings, making the stock its 6th largest position. Y Intercept Hong Kong Ltd's holdings in ServiceNow were worth $13,279,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in ServiceNow by 6.8% in the fourth 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 acquiring an additional 509,467 shares during the last quarter. FMR LLC increased its stake in ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after acquiring an additional 272,506 shares during the last quarter. Geode Capital Management LLC increased its stake in ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after acquiring an additional 100,670 shares during the last quarter. GAMMA Investing LLC increased its stake in ServiceNow by 87,501.3% in the first 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 acquiring an additional 2,686,291 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in ServiceNow by 3.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider's stock valued at $2,814,433,000 after acquiring an additional 87,876 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Up 4.4%

NOW traded up $41.69 during midday trading on Thursday, hitting $998.12. The company had a trading volume of 3,477,903 shares, compared to its average volume of 1,688,948. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $206.59 billion, a price-to-earnings ratio of 135.61, a PEG ratio of 4.41 and a beta of 0.94. The stock's 50 day moving average price is $1,002.51 and its 200 day moving average price is $954.31.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business's revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.13 earnings per share. On average, research analysts anticipate 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 weighed in on NOW. Piper Sandler boosted their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday. Citigroup boosted their target price on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a research note on Thursday. Morgan Stanley reaffirmed an "equal weight" rating on shares of ServiceNow in a research note on Tuesday, July 8th. Wells Fargo & Company boosted their target price on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Wall Street Zen cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average target price of $1,107.94.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 145 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $147,900.00. Following the completion of the sale, the insider directly owned 3,027 shares of the company's stock, valued at approximately $3,087,540. This represents a 4.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 62 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was 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 directly owned 4,332 shares of the company's stock, valued at $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,601 shares of company stock valued at $6,577,363 over the last quarter. 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.