Sapient Capital LLC Acquires 953 Shares of ServiceNow, Inc. (NYSE:NOW)

Sapient Capital LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 9.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,456 shares of the information technology services provider’s stock after purchasing an additional 953 shares during the period. Sapient Capital LLC’s holdings in ServiceNow were worth $10,246,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Swedbank AB bought a new stake in shares of ServiceNow in the 1st quarter valued at $897,908,000. Global Assets Advisory LLC bought a new position in shares of ServiceNow during the 1st quarter worth about $403,034,000. Vanguard Group Inc. grew its stake in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after buying an additional 331,797 shares during the period. AustralianSuper Pty Ltd bought a new stake in ServiceNow in the 2nd quarter valued at about $218,786,000. Finally, Acadian Asset Management LLC raised its stake in ServiceNow by 233.4% during the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after buying an additional 271,073 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction that occurred on 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 directly owns 11,490 shares in the company, valued at $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NOW shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $835.00 target price on shares of ServiceNow in a research report on Tuesday, July 23rd. Citigroup raised their price target on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Robert W. Baird boosted their price objective on ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company raised their target price on ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, JMP Securities increased their price target on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $880.04.

ServiceNow Stock Performance

NYSE:NOW opened at $943.10 on Monday. The business’s fifty day moving average is $861.16 and its 200 day moving average is $786.43. The firm has a market cap of $193.34 billion, a price-to-earnings ratio of 100.38, a PEG ratio of 5.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $949.59.

ServiceNow (NYSE:NOW) last announced its quarterly 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. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. Research analysts predict that ServiceNow, Inc. will post 6.78 EPS 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.