Lakehouse Capital Pty Ltd Has $11.63 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Lakehouse Capital Pty Ltd decreased its position in ServiceNow, Inc. (NYSE:NOW) by 21.5% during the fourth quarter, Holdings Channel reports. The fund owned 10,972 shares of the information technology services provider’s stock after selling 3,000 shares during the period. ServiceNow comprises approximately 7.8% of Lakehouse Capital Pty Ltd’s investment portfolio, making the stock its 6th biggest position. Lakehouse Capital Pty Ltd’s holdings in ServiceNow were worth $11,631,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NOW. Redhawk Wealth Advisors Inc. lifted its stake in shares of ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after purchasing an additional 10 shares during the period. Catalyst Financial Partners LLC raised its position in ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after acquiring an additional 11 shares during the period. First Affirmative Financial Network boosted its stake in shares of ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after acquiring an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after acquiring an additional 12 shares during the period. Finally, BluePointe Capital Management LLC increased its stake in shares of ServiceNow by 0.6% in the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after purchasing an additional 12 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

NOW opened at $1,072.02 on Tuesday. 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 business has a fifty day moving average of $1,070.37 and a 200 day moving average of $935.27. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,157.90. The stock has a market cap of $220.84 billion, a P/E ratio of 166.72, a PEG ratio of 4.85 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly 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 net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 7.06 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Friday, January 10th. Canaccord Genuity Group boosted their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, December 20th. UBS Group increased their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JMP Securities lifted their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,080.38.

Insider Activity

In related news, CEO William R. Mcdermott sold 12,271 shares of ServiceNow stock in a transaction dated 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 completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,731 shares of company stock valued at $21,016,751. 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.