Scout Investments Inc. Has $12.58 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Scout Investments Inc. trimmed its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,845 shares of the information technology services provider’s stock after selling 330 shares during the period. Scout Investments Inc.’s holdings in ServiceNow were worth $12,575,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of NOW. Jacobi Capital Management LLC grew its stake in ServiceNow by 1,225.0% in the 3rd quarter. Jacobi Capital Management LLC now owns 53 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 49 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new stake in shares of ServiceNow during the 3rd quarter valued at $31,000. Newfound Research LLC bought a new stake in shares of ServiceNow during the 3rd quarter valued at $38,000. Hall Laurie J Trustee bought a new stake in shares of ServiceNow during the 3rd quarter valued at $39,000. Finally, Rockbridge Investment Management LCC bought a new stake in shares of ServiceNow during the 2nd quarter valued at $41,000. 80.15% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Frederic B. Luddy sold 1,658 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $495.49, for a total transaction of $821,522.42. Following the transaction, the director now directly owns 811 shares of the company’s stock, valued at approximately $401,842.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Russell S. Elmer sold 1,150 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $499.21, for a total value of $574,091.50. Following the completion of the transaction, the general counsel now directly owns 7,077 shares in the company, valued at $3,532,909.17. The disclosure for this sale can be found here. Insiders have sold a total of 61,175 shares of company stock worth $31,883,815 over the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on NOW. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $565.00 to $625.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Stifel Nicolaus upped their target price on ServiceNow from $500.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, October 26th. Barclays upped their target price on ServiceNow from $640.00 to $650.00 and gave the stock an “overweight” rating in a report on Wednesday, November 11th. They noted that the move was a valuation call. Pritchard Capital upped their target price on ServiceNow from $518.00 to $589.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Finally, Truist upped their target price on ServiceNow from $450.00 to $575.00 in a report on Thursday, October 29th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $537.56.

Shares of NYSE:NOW opened at $521.71 on Thursday. The business’s 50-day moving average is $536.72 and its 200 day moving average is $484.27. ServiceNow, Inc. has a 1 year low of $238.93 and a 1 year high of $566.74. The firm has a market capitalization of $101.79 billion, a P/E ratio of 147.79, a P/E/G ratio of 17.14 and a beta of 1.15. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.40 and a quick ratio of 1.40.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 28th. The information technology services provider reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.18. ServiceNow had a return on equity of 9.79% and a net margin of 16.60%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.11 billion. On average, analysts expect that ServiceNow, Inc. will post 1.11 EPS for the current year.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company offers information technology (IT) service management applications; and 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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