Westfield Capital Management Co. LP Sells 7,397 Shares of ServiceNow, Inc. (NYSE:NOW)

Westfield Capital Management Co. LP decreased its position in ServiceNow, Inc. (NYSE:NOW) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 296,250 shares of the information technology services provider’s stock after selling 7,397 shares during the quarter. ServiceNow accounts for approximately 1.2% of Westfield Capital Management Co. LP’s holdings, making the stock its 13th biggest holding. Westfield Capital Management Co. LP’s holdings in ServiceNow were worth $209,298,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. boosted its stake in ServiceNow by 35.0% in the fourth quarter. Johnson Financial Group Inc. now owns 274 shares of the information technology services provider’s stock worth $194,000 after purchasing an additional 71 shares in the last quarter. Skopos Labs Inc. bought a new stake in ServiceNow during the 4th quarter worth about $776,000. Congress Wealth Management LLC DE increased its position in ServiceNow by 5.3% in the 4th quarter. Congress Wealth Management LLC DE now owns 25,235 shares of the information technology services provider’s stock valued at $17,829,000 after acquiring an additional 1,277 shares in the last quarter. HCR Wealth Advisors raised its stake in shares of ServiceNow by 20.7% in the fourth quarter. HCR Wealth Advisors now owns 3,378 shares of the information technology services provider’s stock worth $2,387,000 after acquiring an additional 579 shares during the last quarter. Finally, Team Hewins LLC acquired a new position in shares of ServiceNow during the fourth quarter worth approximately $2,359,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 190 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the sale, the insider now owns 3,010 shares in the company, valued at $2,163,527.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 917 shares of company stock valued at $690,880. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NOW. Wells Fargo & Company increased their price objective on ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Morgan Stanley lifted their price objective on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. JMP Securities restated a “market outperform” rating and set a $825.00 target price on shares of ServiceNow in a research report on Tuesday, May 7th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 price target on shares of ServiceNow in a research report on Tuesday, May 7th. Finally, Piper Sandler increased their price objective on shares of ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $808.73.

ServiceNow Stock Down 2.6 %

NOW stock traded down $19.64 during trading hours on Friday, reaching $738.51. 1,341,200 shares of the stock were exchanged, compared to its average volume of 1,198,804. The firm’s 50-day moving average is $747.11 and its 200-day moving average is $731.44. ServiceNow, Inc. has a 12 month low of $517.80 and a 12 month high of $815.32. The company has a market cap of $151.39 billion, a price-to-earnings ratio of 78.99, a PEG ratio of 4.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. On average, equities research analysts expect that ServiceNow, Inc. will post 6.5 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.