Jackson Square Capital LLC Raises Holdings in ServiceNow, Inc. (NYSE:NOW)

Jackson Square Capital LLC boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 1,442.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,354 shares of the information technology services provider’s stock after purchasing an additional 5,942 shares during the period. ServiceNow comprises 1.6% of Jackson Square Capital LLC’s investment portfolio, making the stock its 14th largest position. Jackson Square Capital LLC’s holdings in ServiceNow were worth $6,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Truvestments Capital LLC bought a new stake in shares of ServiceNow in the third quarter worth about $30,000. DT Investment Partners LLC increased its stake in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 17 shares during the period. Oakworth Capital Inc. raised its holdings in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 14 shares in the last quarter. Semmax Financial Advisors Inc. bought a new stake in ServiceNow in the second quarter valued at $39,000. Finally, Dunhill Financial LLC increased its position in ServiceNow by 70.0% during the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 21 shares during the period. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the subject of several research analyst reports. Royal Bank of Canada raised their target price on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. JMP Securities lifted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Needham & Company LLC upped their target price on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Scotiabank began coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. 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 two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,080.38.

Insider Buying and Selling at ServiceNow

In other news, insider Nicholas Tzitzon sold 313 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 $333,219.80. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,884,725.40. This trade represents a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now 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. Over the last 90 days, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is owned by company insiders.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $1,072.02 on Friday. The business has a 50-day simple moving average of $1,069.67 and a two-hundred day simple moving average of $931.27. 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 firm has a market cap of $220.84 billion, a price-to-earnings ratio of 166.72, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,157.90.

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, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. 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 earned $1.21 earnings per share. On average, analysts expect 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.