ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC raised its position in ServiceNow, Inc. (NYSE:NOW) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,662,968 shares of the information technology services provider’s stock after purchasing an additional 56,830 shares during the quarter. Fisher Asset Management LLC owned about 0.81% of ServiceNow worth $1,487,343,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new stake in ServiceNow during the 1st quarter valued at $25,000. Versant Capital Management Inc increased its holdings in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the period. EntryPoint Capital LLC raised its stake in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in ServiceNow in the second quarter worth about $32,000. Finally, DT Investment Partners LLC grew its position in ServiceNow by 77.3% in 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. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $1,060.60 on Monday. 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 $218.48 billion, a price-to-earnings ratio of 164.95, a price-to-earnings-growth ratio of 6.09 and a beta of 0.98. The company has a 50 day simple moving average of $948.53 and a 200-day simple moving average of $836.29. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,064.59.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (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 company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the firm earned $1.21 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. Equities research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Sanford C. Bernstein boosted their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their target price on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Citigroup increased their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Scotiabank began coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price objective on the stock. Finally, UBS Group upped their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $986.39.

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares in the company, valued at $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,787 shares of company stock valued at $17,841,028. 0.25% of the stock is currently owned by corporate insiders.

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.