IFM Investors Pty Ltd Buys 644 Shares of ServiceNow, Inc. (NYSE:NOW)

IFM Investors Pty Ltd lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 42,323 shares of the information technology services provider’s stock after acquiring an additional 644 shares during the period. IFM Investors Pty Ltd’s holdings in ServiceNow were worth $37,853,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NOW. Brookstone Capital Management raised its position in ServiceNow by 9.1% in the 1st quarter. Brookstone Capital Management now owns 11,466 shares of the information technology services provider’s stock worth $8,742,000 after purchasing an additional 957 shares during the period. Wealthcare Advisory Partners LLC raised its position in ServiceNow by 15.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,624 shares of the information technology services provider’s stock worth $3,526,000 after purchasing an additional 618 shares during the period. Chesley Taft & Associates LLC raised its position in ServiceNow by 0.9% in the 1st quarter. Chesley Taft & Associates LLC now owns 3,810 shares of the information technology services provider’s stock worth $2,905,000 after purchasing an additional 35 shares during the period. Thrive Wealth Management LLC raised its position in ServiceNow by 7.7% in the 1st quarter. Thrive Wealth Management LLC now owns 390 shares of the information technology services provider’s stock worth $297,000 after purchasing an additional 28 shares during the period. Finally, 180 Wealth Advisors LLC raised its position in ServiceNow by 15.4% in the 1st quarter. 180 Wealth Advisors LLC now owns 1,226 shares of the information technology services provider’s stock worth $935,000 after purchasing an additional 164 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Up 5.8 %

Shares of NYSE:NOW traded up $52.35 during trading on Thursday, reaching $960.03. 1,986,019 shares of the stock traded hands, compared to its average volume of 1,278,673. The stock has a 50-day moving average of $880.60 and a two-hundred day moving average of $795.09. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $979.78. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $196.81 billion, a P/E ratio of 102.78, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the company posted $0.77 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 expect that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul John Smith sold 187 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the completion of the sale, the insider now owns 3,779 shares in the company, valued at $3,006,496.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,467 shares of company stock worth $4,450,447. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on NOW shares. Piper Sandler boosted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $900.00 to $960.00 in a research report on Monday. Oppenheimer boosted their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Guggenheim restated a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. Finally, Canaccord Genuity Group boosted their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $966.08.

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.