Acadian Asset Management LLC Has $160.61 Million Stock Holdings in ServiceNow, Inc. $NOW

Acadian Asset Management LLC decreased its stake in ServiceNow, Inc. (NYSE:NOW) by 30.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 201,765 shares of the information technology services provider’s stock after selling 87,189 shares during the period. Acadian Asset Management LLC’s holdings in ServiceNow were worth $160,610,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bogart Wealth LLC grew its stake in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow in the first quarter worth $26,000. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow in the fourth quarter worth $37,000. WASHINGTON TRUST Co grew its stake in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares during the last quarter. Finally, Dagco Inc. acquired a new stake in shares of ServiceNow in the first quarter worth $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JMP Securities restated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. DA Davidson upped their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. BMO Capital Markets upped their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Erste Group Bank restated a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Finally, Piper Sandler upped their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,115.20.

Insider Activity

In related news, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the sale, the insider directly owned 457 shares of the company’s stock, valued at $409,037.85. This trade represents a 76.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anita M. Sands sold 1,097 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the transaction, the director directly owned 9,307 shares in the company, valued at approximately $8,516,928.77. This represents a 10.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,976 shares of company stock worth $17,049,775. 0.38% of the stock is currently owned by insiders.

ServiceNow Price Performance

Shares of NOW stock opened at $934.41 on Wednesday. The stock’s fifty day simple moving average is $933.46 and its 200 day simple moving average is $922.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $194.36 billion, a price-to-earnings ratio of 117.93, a P/E/G ratio of 4.24 and a beta of 0.91. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09.

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

ServiceNow Company 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.