Riverbridge Partners LLC Sells 4,803 Shares of ServiceNow, Inc. (NYSE:NOW)

Riverbridge Partners LLC trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 4.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 107,003 shares of the information technology services provider’s stock after selling 4,803 shares during the quarter. ServiceNow comprises about 1.5% of Riverbridge Partners LLC’s portfolio, making the stock its 23rd biggest holding. Riverbridge Partners LLC owned approximately 0.05% of ServiceNow worth $113,436,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. World Investment Advisors LLC increased its holdings in ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares during the period. International Assets Investment Management LLC increased its stake in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares during the last quarter. Bank of Montreal Can lifted its stake in ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after purchasing an additional 935,848 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares in the last quarter. Finally, FMR LLC increased its stake in shares of ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after purchasing an additional 502,845 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,731 shares of company stock worth $21,016,751 in the last three months. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on NOW shares. Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $900.00 to $960.00 in a research note on Monday, October 21st. BMO Capital Markets upped their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Citigroup raised their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. UBS Group upped their price target 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. Finally, Royal Bank of Canada raised their price objective on ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,093.34.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,125.39 on Thursday. The firm has a 50 day moving average of $1,071.36 and a 200-day moving average of $937.32. The company has a market cap of $231.83 billion, a price-to-earnings ratio of 175.02, a price-to-earnings-growth ratio of 4.98 and a beta of 0.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. On average, equities analysts forecast that ServiceNow, Inc. will post 7.04 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.