Jackson Square Capital LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 18.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,915 shares of the information technology services provider’s stock after selling 654 shares during the quarter. Jackson Square Capital LLC’s holdings in ServiceNow were worth $1,355,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of NOW. New Hampshire Trust increased its stake in ServiceNow by 4.0% in the 1st quarter. New Hampshire Trust now owns 599 shares of the information technology services provider’s stock valued at $278,000 after purchasing an additional 23 shares in the last quarter. Miracle Mile Advisors LLC grew its holdings in ServiceNow by 1.4% in the 1st quarter. Miracle Mile Advisors LLC now owns 1,666 shares of the information technology services provider’s stock valued at $774,000 after buying an additional 23 shares during the period. Mirova grew its position in ServiceNow by 1.0% during the fourth quarter. Mirova now owns 2,525 shares of the information technology services provider’s stock valued at $980,000 after acquiring an additional 25 shares during the period. Trust Co. of Vermont increased its holdings in ServiceNow by 16.7% in the 1st quarter. Trust Co. of Vermont now owns 175 shares of the information technology services provider’s stock valued at $81,000 after purchasing an additional 25 shares in the last quarter. Finally, Gryphon Financial Partners LLC raised its stake in shares of ServiceNow by 1.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,673 shares of the information technology services provider’s stock valued at $650,000 after purchasing an additional 26 shares during the period. 86.72% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
NOW has been the topic of several analyst reports. Mizuho increased their target price on ServiceNow from $500.00 to $510.00 in a research report on Wednesday, May 17th. Barclays increased their price objective on ServiceNow from $551.00 to $559.00 in a report on Thursday, May 18th. Royal Bank of Canada raised their price objective on ServiceNow from $525.00 to $540.00 in a research report on Wednesday, May 17th. Needham & Company LLC initiated coverage on ServiceNow in a research report on Wednesday, June 14th. They issued a “buy” rating and a $660.00 price objective for the company. Finally, 92 Resources reaffirmed a “reiterates” rating on shares of ServiceNow in a research note on Thursday, April 27th. Two equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $536.94.
Insiders Place Their Bets
In other news, CFO Gina Mastantuono sold 2,147 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $550.00, for a total transaction of $1,180,850.00. Following the sale, the chief financial officer now owns 6,587 shares of the company’s stock, valued at $3,622,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ServiceNow news, insider Jacqueline P. Canney sold 886 shares of ServiceNow stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $450.96, for a total value of $399,550.56. Following the sale, the insider now owns 1,368 shares of the company’s stock, valued at approximately $616,913.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gina Mastantuono sold 2,147 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $550.00, for a total transaction of $1,180,850.00. Following the sale, the chief financial officer now directly owns 6,587 shares in the company, valued at approximately $3,622,850. The disclosure for this sale can be found here. Insiders have sold 29,956 shares of company stock valued at $15,088,178 in the last ninety days. 0.28% of the stock is currently owned by corporate insiders.
ServiceNow Stock Performance
NOW stock traded up $0.90 during trading on Tuesday, reaching $562.87. The company had a trading volume of 473,358 shares, compared to its average volume of 1,247,251. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a 50-day simple moving average of $511.66 and a 200-day simple moving average of $462.03. ServiceNow, Inc. has a twelve month low of $337.00 and a twelve month high of $576.68. The company has a market cap of $114.68 billion, a price-to-earnings ratio of 287.18, a price-to-earnings-growth ratio of 7.04 and a beta of 1.02.
ServiceNow (NYSE:NOW – Free Report) last released its quarterly earnings results on Wednesday, April 26th. The information technology services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.37. ServiceNow had a return on equity of 10.18% and a net margin of 5.25%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.09 billion. As a group, sell-side analysts expect that ServiceNow, Inc. will post 3.17 earnings per share for the current year.
ServiceNow Company Profile
ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.