Wellington Management Group LLP Acquires 615,797 Shares of ServiceNow, Inc. (NYSE:NOW)

Wellington Management Group LLP increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 24.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,169,531 shares of the information technology services provider’s stock after purchasing an additional 615,797 shares during the quarter. Wellington Management Group LLP owned 1.54% of ServiceNow worth $2,834,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Wahed Invest LLC grew its holdings in ServiceNow by 7.0% during the 3rd quarter. Wahed Invest LLC now owns 4,886 shares of the information technology services provider’s stock valued at $4,370,000 after buying an additional 319 shares in the last quarter. Soros Fund Management LLC purchased a new position in shares of ServiceNow in the 3rd quarter worth approximately $18,402,000. State Street Corp boosted its holdings in ServiceNow by 2.6% during the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after acquiring an additional 226,023 shares during the period. Stevens Capital Management LP boosted its holdings in ServiceNow by 2.6% during the 3rd quarter. Stevens Capital Management LP now owns 956 shares of the information technology services provider’s stock valued at $855,000 after acquiring an additional 24 shares during the period. Finally, Stifel Financial Corp boosted its holdings in ServiceNow by 1.4% during the 3rd quarter. Stifel Financial Corp now owns 386,981 shares of the information technology services provider’s stock valued at $346,113,000 after acquiring an additional 5,359 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 300 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the transaction, the director now owns 10,467 shares of the company’s stock, valued at approximately $10,968,892.65. This represents a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Up 0.1 %

Shares of NOW opened at $1,123.72 on Friday. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,130.60. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $231.49 billion, a price-to-earnings ratio of 174.76, a PEG ratio of 6.07 and a beta of 0.99. The stock’s 50-day moving average price is $977.66 and its 200-day moving average price is $855.37.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. StockNews.com upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $900.00 to $960.00 in a research report on Monday, October 21st. Canaccord Genuity Group lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Piper Sandler lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, TD Cowen lifted their target price on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.64.

ServiceNow Company 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.