Sienna Gestion Acquires New Shares in ServiceNow, Inc. $NOW

Sienna Gestion bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,650 shares of the information technology services provider’s stock, valued at approximately $6,419,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Norges Bank purchased a new position in shares of ServiceNow during the 2nd quarter worth $2,589,235,000. Vanguard Group Inc. increased its position in shares of ServiceNow by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 19,895,063 shares of the information technology services provider’s stock worth $20,453,716,000 after purchasing an additional 398,071 shares during the last quarter. Corient Private Wealth LLC raised its holdings in ServiceNow by 105.1% in the 2nd quarter. Corient Private Wealth LLC now owns 668,630 shares of the information technology services provider’s stock valued at $684,355,000 after buying an additional 342,613 shares during the period. Victory Capital Management Inc. raised its holdings in ServiceNow by 49.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,033,496 shares of the information technology services provider’s stock valued at $951,106,000 after buying an additional 341,037 shares during the period. Finally, American Century Companies Inc. lifted its position in ServiceNow by 109.6% in the second quarter. American Century Companies Inc. now owns 394,261 shares of the information technology services provider’s stock valued at $405,332,000 after buying an additional 206,175 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $101.17, for a total transaction of $151,755.00. Following the completion of the transaction, the director directly owned 46,430 shares of the company’s stock, valued at $4,697,323.10. The trade was a 3.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kevin Thomas Mcbride sold 1,400 shares of the company’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the sale, the insider owned 26,314 shares in the company, valued at approximately $2,781,652.94. This trade represents a 5.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,237 shares of company stock worth $1,697,162 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the subject of several research analyst reports. Jefferies Financial Group lowered their target price on shares of ServiceNow from $230.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. Wall Street Zen lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Mizuho lowered their price objective on shares of ServiceNow from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, January 21st. HSBC dropped their target price on shares of ServiceNow from $266.40 to $226.00 and set a “buy” rating for the company in a report on Friday, January 30th. Finally, Stifel Nicolaus set a $180.00 price target on ServiceNow and gave the stock a “buy” rating in a research note on Thursday, January 29th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $192.06.

ServiceNow Trading Up 3.4%

NYSE NOW opened at $124.43 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $130.15 billion, a price-to-earnings ratio of 74.60, a PEG ratio of 2.10 and a beta of 0.99. The firm has a 50 day simple moving average of $122.89 and a 200-day simple moving average of $157.18. ServiceNow, Inc. has a one year low of $98.00 and a one year high of $211.48.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 28th. The information technology services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.53 billion. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.