ServiceNow, Inc. (NYSE:NOW) is CDAM UK Ltd’s 5th Largest Position

CDAM UK Ltd lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 30.3% during the third quarter, Holdings Channel.com reports. The firm owned 74,755 shares of the information technology services provider’s stock after selling 32,444 shares during the quarter. ServiceNow makes up 9.9% of CDAM UK Ltd’s investment portfolio, making the stock its 5th largest position. CDAM UK Ltd’s holdings in ServiceNow were worth $66,860,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Fisher Asset Management LLC boosted its holdings in ServiceNow by 3.5% during the third quarter. Fisher Asset Management LLC now owns 1,662,968 shares of the information technology services provider’s stock worth $1,487,343,000 after buying an additional 56,830 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of ServiceNow by 11.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,620,298 shares of the information technology services provider’s stock valued at $1,449,178,000 after acquiring an additional 167,847 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after acquiring an additional 34,855 shares in the last quarter. Swedbank AB grew its holdings in shares of ServiceNow by 10.3% in the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock worth $1,021,666,000 after acquiring an additional 120,983 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in ServiceNow by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,236,337 shares of the information technology services provider’s stock valued at $1,105,767,000 after purchasing an additional 31,702 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NOW. JPMorgan Chase & Co. boosted their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. BMO Capital Markets lifted their target price 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 increased their price target 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. Stifel Nicolaus lifted their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group increased their target price on ServiceNow from $900.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $989.07.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,787 shares of company stock valued at $17,841,028. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

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

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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. The firm 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 revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 earnings per share. As a group, analysts forecast that ServiceNow, Inc. will post 7.07 EPS 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.