Westfield Capital Management Co. LP Sells 7,397 Shares of ServiceNow, Inc. (NYSE:NOW)

Westfield Capital Management Co. LP lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 296,250 shares of the information technology services provider's stock after selling 7,397 shares during the quarter. ServiceNow accounts for 1.2% of Westfield Capital Management Co. LP's portfolio, making the stock its 13th biggest holding. Westfield Capital Management Co. LP owned about 0.14% of ServiceNow worth $209,298,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider's stock valued at $9,923,653,000 after purchasing an additional 122,577 shares in the last quarter. FMR LLC grew its position in ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider's stock worth $2,256,407,000 after purchasing an additional 595,697 shares during the period. Jennison Associates LLC raised its position in ServiceNow by 2.2% during the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider's stock valued at $1,781,195,000 after acquiring an additional 53,719 shares in the last quarter. Norges Bank acquired a new position in shares of ServiceNow in the 4th quarter valued at $1,648,259,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider's stock worth $1,612,032,000 after acquiring an additional 81,028 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Price Performance

Shares of NOW stock traded down $19.64 during trading on Friday, hitting $738.51. The company had a trading volume of 1,341,200 shares, compared to its average volume of 1,198,804. The firm has a market capitalization of $151.39 billion, a P/E ratio of 78.99, a price-to-earnings-growth ratio of 4.83 and a beta of 0.98. ServiceNow, Inc. has a one year low of $517.80 and a one year high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock's 50-day moving average price is $747.11 and its 200 day moving average price is $731.44.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, beating the consensus estimate of $1.41 by $0.41. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. Equities analysts expect that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research analyst reports. StockNews.com lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research report on Friday, April 26th. Citigroup lifted their price objective on ServiceNow from $896.00 to $906.00 and gave the company a "buy" rating in a research note on Thursday, April 18th. The Goldman Sachs Group raised their price target on shares of ServiceNow from $800.00 to $910.00 and gave the company a "buy" rating in a research report on Thursday, January 25th. Morgan Stanley upped their target price on shares of ServiceNow from $814.00 to $830.00 and gave the stock an "overweight" rating in a research note on Thursday, April 25th. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $830.00 price target on shares of ServiceNow in a report on Friday, May 10th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $808.73.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 190 shares of the firm's stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, the insider now directly owns 3,010 shares of the company's stock, valued at $2,163,527.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 917 shares of company stock valued at $690,880 over the last quarter. Insiders own 0.25% of the company's stock.

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.

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