ServiceNow Inc (NOW) Stake Increased by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of ServiceNow Inc (NYSE:NOW) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,536,350 shares of the information technology services provider’s stock after buying an additional 55,767 shares during the period. Geode Capital Management LLC’s holdings in ServiceNow were worth $273,336,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of NOW. Jennison Associates LLC lifted its holdings in shares of ServiceNow by 282.1% during the 4th quarter. Jennison Associates LLC now owns 2,406,077 shares of the information technology services provider’s stock worth $428,402,000 after acquiring an additional 1,776,380 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in ServiceNow by 5,281.3% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 575,481 shares of the information technology services provider’s stock worth $102,464,000 after purchasing an additional 564,787 shares in the last quarter. Westfield Capital Management Co. LP increased its position in ServiceNow by 23.6% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,061,707 shares of the information technology services provider’s stock worth $189,037,000 after purchasing an additional 202,520 shares in the last quarter. Northern Trust Corp increased its position in ServiceNow by 10.4% during the 4th quarter. Northern Trust Corp now owns 1,075,152 shares of the information technology services provider’s stock worth $191,430,000 after purchasing an additional 101,135 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in ServiceNow during the 4th quarter worth approximately $16,685,000. 94.02% of the stock is owned by institutional investors.

In related news, CFO Michael Scarpelli sold 29,553 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $237.88, for a total transaction of $7,030,067.64. Following the completion of the sale, the chief financial officer now owns 31,971 shares in the company, valued at $7,605,261.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Schneider sold 2,373 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $240.17, for a total transaction of $569,923.41. Following the sale, the insider now owns 57,605 shares of the company’s stock, valued at approximately $13,834,992.85. The disclosure for this sale can be found here. Insiders sold 148,615 shares of company stock worth $37,312,944 over the last ninety days. Insiders own 1.00% of the company’s stock.

Shares of NYSE NOW opened at $271.21 on Wednesday. The firm has a market cap of $50.64 billion, a P/E ratio of 1,356.05, a P/E/G ratio of 20.13 and a beta of 1.45. ServiceNow Inc has a 12-month low of $147.63 and a 12-month high of $281.74. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.10. ServiceNow had a negative net margin of 1.38% and a positive return on equity of 1.64%. The firm had revenue of $788.93 million for the quarter, compared to analyst estimates of $768.09 million. During the same period last year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was up 33.9% compared to the same quarter last year. Equities research analysts predict that ServiceNow Inc will post 0.48 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on the stock. Canaccord Genuity upped their price objective on shares of ServiceNow from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Royal Bank of Canada upped their price objective on shares of ServiceNow to $285.00 and gave the stock a “top pick” rating in a research report on Tuesday, May 7th. Deutsche Bank upped their price objective on shares of ServiceNow from $285.00 to $305.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Northland Securities reiterated a “buy” rating and set a $280.00 price objective on shares of ServiceNow in a research report on Thursday, May 2nd. Finally, Argus upped their price objective on shares of ServiceNow from $260.00 to $304.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $268.24.

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About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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