Ballentine Partners LLC Grows Stake in ServiceNow, Inc. (NYSE:NOW)

Ballentine Partners LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,053 shares of the information technology services provider’s stock after acquiring an additional 182 shares during the quarter. Ballentine Partners LLC’s holdings in ServiceNow were worth $3,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Polymer Capital Management HK LTD lifted its stake in shares of ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after purchasing an additional 981 shares during the period. AXA S.A. raised its position in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after acquiring an additional 4,271 shares during the period. Avidian Wealth Enterprises LLC boosted its stake in shares of ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after acquiring an additional 138 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after acquiring an additional 765 shares during the period. Finally, Cardano Risk Management B.V. purchased a new stake in shares of ServiceNow in the 4th quarter worth $105,090,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 1.4 %

Shares of NOW opened at $1,072.02 on Tuesday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $1,069.67 and its 200-day simple moving average is $933.26. The company has a market cap of $220.84 billion, a P/E ratio of 166.72, a P/E/G ratio of 4.85 and a beta of 0.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. As a group, analysts expect that ServiceNow, Inc. will post 7.06 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Truist Financial boosted their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Jefferies Financial Group boosted their price objective on ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Sanford C. Bernstein raised their target price on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Scotiabank assumed coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target for the company. Finally, JMP Securities raised their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,080.38.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following 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 disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock valued at $21,016,751 in the last quarter. 0.25% of the stock is owned by insiders.

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.