Clean Yield Group Acquires 414 Shares of ServiceNow, Inc. (NYSE:NOW)

Clean Yield Group grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 11.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,921 shares of the information technology services provider’s stock after acquiring an additional 414 shares during the period. ServiceNow accounts for approximately 1.3% of Clean Yield Group’s holdings, making the stock its 22nd largest position. Clean Yield Group’s holdings in ServiceNow were worth $4,157,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NOW. World Investment Advisors LLC raised its holdings in ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after buying an additional 4,771,830 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares in the last quarter. Bank of Montreal Can boosted its position in ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after purchasing an additional 935,848 shares during the period. Wellington Management Group LLP grew its holdings in ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. Finally, FMR LLC raised its position in shares of ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after purchasing an additional 502,845 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $19.90 during midday trading on Monday, reaching $1,004.67. The company had a trading volume of 1,038,132 shares, compared to its average volume of 1,126,590. The stock has a fifty day simple moving average of $1,064.01 and a 200 day simple moving average of $924.13. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90. 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 company has a market capitalization of $206.96 billion, a price-to-earnings ratio of 156.25, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. 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 firm posted $1.21 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Activity

In other news, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of the firm’s 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 in the company, valued at $2,799,853.92. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Oppenheimer raised their target price on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Barclays lifted their price objective on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Raymond James assumed coverage on ServiceNow in a research note on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price for the company. The Goldman Sachs Group upped their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday. Finally, UBS Group raised their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $1,071.39.

ServiceNow 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.