Prudential PLC Raises Holdings in ServiceNow, Inc. (NYSE:NOW)

Prudential PLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 16.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,657 shares of the information technology services provider’s stock after buying an additional 5,815 shares during the period. Prudential PLC’s holdings in ServiceNow were worth $32,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its stake in ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock worth $874,258,000 after acquiring an additional 12,533 shares during the last quarter. Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of ServiceNow during the 1st quarter worth approximately $1,820,000. ASR Vermogensbeheer N.V. acquired a new position in shares of ServiceNow in the 1st quarter valued at $19,278,000. Nicholas Investment Partners LP grew its position in shares of ServiceNow by 223.5% in the 4th quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider’s stock valued at $2,974,000 after buying an additional 1,938 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after acquiring an additional 840,731 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

NOW has been the topic of a number of research reports. Needham & Company LLC raised their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. BMO Capital Markets lifted their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Mizuho lifted their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, June 12th. Finally, Jefferies Financial Group increased their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given 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 a consensus target price of $1,115.20.

ServiceNow Stock Down 1.9%

NOW opened at $855.95 on Tuesday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The firm has a 50 day moving average price of $979.82 and a 200 day moving average price of $940.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $178.04 billion, a PE ratio of 107.80, a price-to-earnings-growth ratio of 3.93 and a beta of 0.93.

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

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 257 shares of ServiceNow stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $878.39, for a total transaction of $225,746.23. Following the sale, the insider owned 3,027 shares in the company, valued at $2,658,886.53. This trade represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anita M. Sands sold 239 shares of ServiceNow stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the sale, the director directly owned 10,404 shares in the company, valued at $10,924,200. This trade represents a 2.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,587 shares of company stock worth $5,584,027. Insiders own 0.38% of the company’s stock.

About ServiceNow

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.