Sustainable Insight Capital Management LLC Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Sustainable Insight Capital Management LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 65.9% in the fourth quarter, HoldingsChannel reports. The firm owned 760 shares of the information technology services provider’s stock after buying an additional 302 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in ServiceNow were worth $806,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in ServiceNow in the third quarter worth about $30,000. DT Investment Partners LLC lifted its position in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares in the last quarter. Oakworth Capital Inc. lifted its stake in shares of ServiceNow by 46.7% in the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares in the last quarter. Dunhill Financial LLC grew its holdings in shares of ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 21 shares during the period. Finally, Vestor Capital LLC acquired a new stake in ServiceNow in the 3rd quarter valued at approximately $48,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

Shares of NOW opened at $1,132.30 on Friday. 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 firm has a market capitalization of $233.25 billion, a PE ratio of 176.10, a price-to-earnings-growth ratio of 5.11 and a beta of 0.99. The company has a 50-day simple moving average of $1,072.95 and a two-hundred day simple moving average of $938.64. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90.

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. The business had revenue of $2.80 billion for 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 was up 22.2% compared to the same quarter last year. During the same period last year, the business posted $1.21 EPS. On average, analysts anticipate that ServiceNow, Inc. will post 7.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NOW shares. Raymond James began coverage on ServiceNow in a research report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price on the stock. Barclays raised their price objective 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. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Scotiabank assumed coverage on shares of ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price for the company. Finally, Guggenheim reissued a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,093.34.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction 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. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This trade represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,731 shares of company stock valued at $21,016,751 over the last three months. Corporate insiders own 0.25% of the company’s stock.

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.