Fisher Asset Management LLC Buys 56,830 Shares of ServiceNow, Inc. (NYSE:NOW)

Fisher Asset Management LLC boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,662,968 shares of the information technology services provider’s stock after buying an additional 56,830 shares during the quarter. Fisher Asset Management LLC’s holdings in ServiceNow were worth $1,487,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Quent Capital LLC grew its position in ServiceNow by 4.1% during the first quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after buying an additional 30 shares in the last quarter. EntryPoint Capital LLC increased its position in shares of ServiceNow by 3,900.0% during the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the period. Silvercrest Asset Management Group LLC raised its stake in shares of ServiceNow by 31.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 3,859 shares of the information technology services provider’s stock valued at $2,942,000 after purchasing an additional 931 shares in the last quarter. Bayesian Capital Management LP boosted its stake in ServiceNow by 183.8% during the first quarter. Bayesian Capital Management LP now owns 2,009 shares of the information technology services provider’s stock worth $1,532,000 after buying an additional 1,301 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. increased its holdings in ServiceNow by 3.8% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,945 shares of the information technology services provider’s stock valued at $1,483,000 after buying an additional 71 shares during the period. 87.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,173,173.83. This trade represents a 2.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were 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. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,787 shares of company stock valued at $17,841,028. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. KeyCorp upped their price objective on ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Truist Financial raised 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. Finally, Sanford C. Bernstein upped their price target on ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and an average target price of $986.39.

ServiceNow Price Performance

ServiceNow stock opened at $1,060.60 on Monday. The business’s 50-day simple moving average is $948.53 and its 200 day simple moving average is $836.29. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market cap of $218.48 billion, a price-to-earnings ratio of 164.95, a P/E/G ratio of 6.09 and a beta of 0.98. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,064.59.

ServiceNow (NYSE:NOW) last issued its 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 company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS. As a group, research analysts anticipate 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.