DNB Asset Management AS Purchases 8,305 Shares of ServiceNow Inc (NYSE:NOW)

DNB Asset Management AS raised its position in shares of ServiceNow Inc (NYSE:NOW) by 39.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,424 shares of the information technology services provider’s stock after acquiring an additional 8,305 shares during the period. DNB Asset Management AS’s holdings in ServiceNow were worth $8,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. United Asset Strategies Inc. lifted its position in ServiceNow by 2.1% during the third quarter. United Asset Strategies Inc. now owns 1,933 shares of the information technology services provider’s stock valued at $491,000 after purchasing an additional 40 shares during the last quarter. Dupont Capital Management Corp increased its holdings in shares of ServiceNow by 1.5% in the 3rd quarter. Dupont Capital Management Corp now owns 3,036 shares of the information technology services provider’s stock worth $771,000 after buying an additional 44 shares during the last quarter. Cetera Advisor Networks LLC raised its position in shares of ServiceNow by 5.2% during the 3rd quarter. Cetera Advisor Networks LLC now owns 907 shares of the information technology services provider’s stock valued at $232,000 after buying an additional 45 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of ServiceNow by 3.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,582 shares of the information technology services provider’s stock valued at $401,000 after buying an additional 47 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in shares of ServiceNow by 6.2% in the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 930 shares of the information technology services provider’s stock valued at $236,000 after acquiring an additional 54 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider David Schneider sold 2,446 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $247.31, for a total transaction of $604,920.26. Following the transaction, the insider now owns 42,362 shares in the company, valued at $10,476,546.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chirantan Jitendra Desai sold 152 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $250.93, for a total value of $38,141.36. Following the transaction, the insider now owns 36,706 shares in the company, valued at approximately $9,210,636.58. The disclosure for this sale can be found here. Insiders have sold a total of 63,487 shares of company stock valued at $16,652,731 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Several research analysts recently commented on NOW shares. BTIG Research lifted their price target on ServiceNow to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Piper Jaffray Companies started coverage on ServiceNow in a research report on Friday, November 8th. They set an “overweight” rating and a $305.00 price objective on the stock. BMO Capital Markets lowered their price objective on ServiceNow from $315.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Morgan Stanley raised their price objective on ServiceNow from $267.00 to $308.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Raymond James dropped their target price on ServiceNow from $342.00 to $300.00 and set a “strong-buy” rating for the company in a report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $298.82.

NOW stock opened at $301.50 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.75. The business’s fifty day simple moving average is $283.00 and its two-hundred day simple moving average is $270.24. ServiceNow Inc has a twelve month low of $182.46 and a twelve month high of $306.00. The firm has a market cap of $56.04 billion, a price-to-earnings ratio of 1,507.50, a PEG ratio of 10.05 and a beta of 1.33.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.81. The firm had revenue of $885.80 million during the quarter, compared to analyst estimates of $885.53 million. ServiceNow had a net margin of 1.09% and a return on equity of 6.62%. The business’s revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. Research analysts expect that ServiceNow Inc will post 0.48 EPS for the current year.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as 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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