ServiceNow, Inc. (NYSE:NOW) is Westwind Capital’s 7th Largest Position

Westwind Capital raised its position in ServiceNow, Inc. (NYSE:NOW) by 41.6% during the fourth quarter, Holdings Channel reports. The firm owned 23,131 shares of the information technology services provider’s stock after buying an additional 6,798 shares during the quarter. ServiceNow comprises 5.3% of Westwind Capital’s portfolio, making the stock its 7th largest holding. Westwind Capital’s holdings in ServiceNow were worth $24,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NOW. Catalyst Financial Partners LLC grew its stake in shares of ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after acquiring an additional 11 shares in the last quarter. First Affirmative Financial Network boosted its stake in shares of ServiceNow by 1.4% in the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after buying an additional 12 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of ServiceNow by 14.6% during the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock worth $84,000 after buying an additional 12 shares during the period. BluePointe Capital Management LLC raised its holdings in ServiceNow by 0.6% in the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after acquiring an additional 12 shares in the last quarter. Finally, Morling Financial Advisors LLC lifted its stake in ServiceNow by 2.5% in the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after acquiring an additional 13 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the transaction, the director now directly owns 11,000 shares in the company, valued at $11,710,600. This trade represents a 16.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,629 shares of company stock valued at $20,861,626 in the last ninety days. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on NOW. Citigroup boosted their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Sanford C. Bernstein increased their price objective on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. KeyCorp cut ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Needham & Company LLC raised their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,061.04.

ServiceNow Price Performance

Shares of NOW stock traded down $29.62 during mid-day trading on Tuesday, reaching $1,047.43. The stock had a trading volume of 758,909 shares, compared to its average volume of 864,584. The company has a market cap of $215.77 billion, a P/E ratio of 162.90, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The business has a 50-day simple moving average of $1,056.15 and a 200 day simple moving average of $915.86. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share 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 business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the company posted $1.21 EPS. The company’s revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 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.