ServiceNow, Inc. (NYSE:NOW) Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC raised its stake in ServiceNow, Inc. (NYSE:NOW) by 14.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,978 shares of the information technology services provider’s stock after buying an additional 1,857 shares during the period. Metis Global Partners LLC’s holdings in ServiceNow were worth $11,925,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOW. Price T Rowe Associates Inc. MD raised its position in ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock worth $8,434,235,000 after acquiring an additional 509,467 shares during the last quarter. FMR LLC increased its stake in shares of ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock worth $6,232,339,000 after purchasing an additional 272,506 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ServiceNow by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider’s stock worth $4,560,890,000 after purchasing an additional 100,670 shares during the last quarter. GAMMA Investing LLC raised its position in shares of ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ServiceNow by 3.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider’s stock valued at $2,814,433,000 after buying an additional 87,876 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Down 2.8%

NYSE:NOW opened at $968.05 on Friday. The business’s 50-day moving average is $1,000.33 and its two-hundred day moving average is $952.52. The firm has a market capitalization of $200.37 billion, a PE ratio of 121.92, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.13 earnings per share. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on NOW. Canaccord Genuity Group dropped their price target on ServiceNow from $1,275.00 to $900.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Citigroup increased their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a research note on Thursday. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Guggenheim restated a “sell” rating and issued a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. Finally, Erste Group Bank reiterated a “hold” rating on shares of ServiceNow in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,114.87.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 239 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the completion of the sale, the director directly owned 10,404 shares of the company’s stock, valued at approximately $10,924,200. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at $3,060,000. This represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,003 shares of company stock valued at $6,015,106 over the last three months. Company insiders own 0.38% 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.