WINTON GROUP Ltd Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

WINTON GROUP Ltd acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,648 shares of the information technology services provider’s stock, valued at approximately $2,083,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after buying an additional 331,797 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of ServiceNow by 18.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after acquiring an additional 271,153 shares during the period. Bank of New York Mellon Corp lifted its position in shares of ServiceNow by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after acquiring an additional 34,855 shares in the last quarter. Fisher Asset Management LLC boosted its stake in ServiceNow by 7.5% in the 4th quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock worth $1,023,315,000 after purchasing an additional 101,485 shares during the period. Finally, Swedbank AB grew its position in ServiceNow by 10.3% during 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 purchasing an additional 120,983 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Robert W. Baird raised their target price on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company lifted their target price on ServiceNow from $920.00 to $935.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. KeyCorp reduced their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Truist Financial boosted their price objective on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $855.44.

ServiceNow Stock Down 0.8 %

ServiceNow stock opened at $878.95 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $889.52. The firm has a fifty day moving average price of $807.22 and a two-hundred day moving average price of $766.54. The firm has a market cap of $181.06 billion, a price-to-earnings ratio of 94.01, a P/E/G ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 EPS. As a group, analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,914 shares of company stock worth $5,608,936. Insiders own 0.25% of the company’s stock.

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.