Loomis Sayles & Co. L P Raises Stock Position in ServiceNow, Inc. (NYSE:NOW)

Loomis Sayles & Co. L P grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 8.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,277 shares of the information technology services provider’s stock after purchasing an additional 95 shares during the period. Loomis Sayles & Co. L P’s holdings in ServiceNow were worth $1,142,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Fisher Asset Management LLC increased its stake in ServiceNow by 3.5% during the third quarter. Fisher Asset Management LLC now owns 1,662,968 shares of the information technology services provider’s stock worth $1,487,343,000 after purchasing an additional 56,830 shares during the period. Massachusetts Financial Services Co. MA increased its stake in ServiceNow by 11.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,298 shares of the information technology services provider’s stock worth $1,449,178,000 after purchasing an additional 167,847 shares during the period. Bank of New York Mellon Corp increased its stake in ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after purchasing an additional 34,855 shares during the period. Swedbank AB increased its stake in shares of ServiceNow by 10.3% during the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after buying an additional 120,983 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of ServiceNow by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,236,337 shares of the information technology services provider’s stock worth $1,105,767,000 after buying an additional 31,702 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares in the company, valued at $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,329 shares of company stock worth $20,547,241. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price on the stock. KeyCorp upped their target price on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Mizuho upped their target price on shares of ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. TD Cowen upped their target price on shares of ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group upped their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $989.07.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,041.42 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a fifty day moving average price of $958.40 and a 200 day moving average price of $842.41. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,072.84. The company has a market cap of $214.53 billion, a PE ratio of 161.96, a P/E/G ratio of 6.04 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. Sell-side analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

ServiceNow 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.