ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 48.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,354 shares of the information technology services provider’s stock after acquiring an additional 1,094 shares during the period. Harvest Fund Management Co. Ltd’s holdings in ServiceNow were worth $2,997,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Prosperity Financial Group Inc. raised its position in ServiceNow by 5.5% in the third quarter. Prosperity Financial Group Inc. now owns 651 shares of the information technology services provider’s stock valued at $582,000 after purchasing an additional 34 shares during the period. Bank of Hawaii grew its stake in shares of ServiceNow by 2.7% in the third quarter. Bank of Hawaii now owns 1,578 shares of the information technology services provider’s stock valued at $1,411,000 after buying an additional 41 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of ServiceNow by 3.5% during the 3rd quarter. Fisher Asset Management LLC now owns 1,662,968 shares of the information technology services provider’s stock valued at $1,487,343,000 after buying an additional 56,830 shares during the period. Daiwa Securities Group Inc. lifted its position in ServiceNow by 873.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 245,525 shares of the information technology services provider’s stock worth $219,596,000 after acquiring an additional 220,295 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its position in ServiceNow by 12.6% in the third quarter. Summit Trail Advisors LLC now owns 2,226 shares of the information technology services provider’s stock valued at $1,990,000 after acquiring an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,060,115.38. This trade represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,787 shares of company stock valued at $17,841,028 in the last quarter. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,060.60 on Monday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,064.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a fifty day moving average price of $948.53 and a two-hundred day moving average price of $836.29. The firm has a market cap of $218.48 billion, a P/E ratio of 164.95, a PEG ratio of 6.09 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its 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 return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the business posted $1.21 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Piper Sandler upped 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, October 24th. Truist Financial lifted their target price on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Scotiabank started coverage on ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target for the company. Finally, Morgan Stanley lowered ServiceNow from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $900.00 to $960.00 in a research report on Monday, October 21st. One investment 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $986.39.

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.