WD Rutherford LLC Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

WD Rutherford LLC grew its stake in ServiceNow, Inc. (NYSE:NOW) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,083 shares of the information technology services provider’s stock after buying an additional 41 shares during the period. ServiceNow makes up about 2.0% of WD Rutherford LLC’s holdings, making the stock its 21st biggest holding. WD Rutherford LLC’s holdings in ServiceNow were worth $3,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after acquiring an additional 122,577 shares during the last quarter. Jennison Associates LLC raised its holdings in ServiceNow by 2.2% during the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock valued at $1,781,195,000 after buying an additional 53,719 shares during the last quarter. Norges Bank bought a new stake in ServiceNow during the 4th quarter valued at $1,648,259,000. Massachusetts Financial Services Co. MA raised its holdings in ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after buying an additional 81,028 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in ServiceNow by 18.3% during the 4th 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 buying an additional 271,153 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ServiceNow news, insider Christopher Bedi sold 215 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other ServiceNow news, insider Christopher Bedi sold 215 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul John Smith sold 190 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total transaction of $136,568.20. Following the sale, the insider now directly owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,530 shares of company stock valued at $3,997,012. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. BMO Capital Markets lowered their price target on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 7th. JMP Securities reissued a “market outperform” rating and set a $825.00 price objective on shares of ServiceNow in a research report on Tuesday, May 7th. Wolfe Research reissued an “outperform” rating and set a $830.00 price objective on shares of ServiceNow in a research report on Friday, May 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research report on Tuesday, June 18th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $814.48.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $12.54 during trading on Friday, hitting $786.67. The company’s stock had a trading volume of 1,721,786 shares, compared to its average volume of 1,451,259. The company has a 50-day moving average of $726.55 and a 200-day moving average of $740.89. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $815.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $161.27 billion, a price-to-earnings ratio of 84.19, a P/E/G ratio of 4.85 and a beta of 0.96.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.41. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. On average, sell-side analysts expect that ServiceNow, Inc. will post 6.5 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.