Bamco Inc. NY Lowers Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Bamco Inc. NY lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 19.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,244 shares of the information technology services provider’s stock after selling 18,702 shares during the period. Bamco Inc. NY’s holdings in ServiceNow were worth $67,297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Versant Capital Management Inc increased its holdings in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the period. Truvestments Capital LLC purchased a new position in ServiceNow during the third quarter worth about $30,000. Ridgewood Investments LLC bought a new position in ServiceNow in the 2nd quarter worth about $32,000. DT Investment Partners LLC raised its holdings in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. Finally, American Capital Advisory LLC bought a new stake in shares of ServiceNow during the 2nd quarter valued at about $39,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 0.8 %

NOW opened at $1,049.44 on Monday. The firm has a market capitalization of $216.18 billion, a price-to-earnings ratio of 163.21, a PEG ratio of 6.02 and a beta of 0.98. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,072.84. The business has a 50 day simple moving average of $963.10 and a two-hundred day simple moving average of $847.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during 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 was up 22.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 earnings per share. Analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analysts Set New Price Targets

NOW has been the topic of several research analyst reports. Barclays upped their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Evercore ISI increased their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Mizuho lifted their price objective on shares of ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. JMP Securities increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird raised their price target on ServiceNow from $900.00 to $975.00 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 issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $989.07.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the sale, the director now owns 11,000 shares in the company, valued at $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,329 shares of company stock valued at $20,547,241. Company insiders own 0.25% of the company’s stock.

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.