ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its position in ServiceNow, Inc. (NYSE:NOW) by 20.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,028 shares of the information technology services provider’s stock after acquiring an additional 3,097 shares during the quarter. Quantinno Capital Management LP’s holdings in ServiceNow were worth $16,125,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NOW. Truvestments Capital LLC purchased a new stake in shares of ServiceNow in the 3rd quarter valued at approximately $30,000. Ridgewood Investments LLC purchased a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $32,000. DT Investment Partners LLC lifted its position in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares in the last quarter. American Capital Advisory LLC purchased a new stake in ServiceNow in the 2nd quarter worth approximately $39,000. Finally, Semmax Financial Advisors Inc. purchased a new stake in ServiceNow in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,629 shares of company stock valued at $20,861,626. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOW. Wells Fargo & Company increased their price target on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Royal Bank of Canada raised their target price on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets boosted their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. JMP Securities boosted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a report on Thursday, October 17th. Finally, Barclays lifted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $999.07.

ServiceNow Trading Up 6.2 %

NOW opened at $1,123.13 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 company has a market cap of $231.36 billion, a price-to-earnings ratio of 174.67, a price-to-earnings-growth ratio of 6.07 and a beta of 0.99. The firm has a 50 day simple moving average of $972.88 and a 200 day simple moving average of $853.49. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,126.63.

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