Los Angeles Capital Management LLC Boosts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Los Angeles Capital Management LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 357,629 shares of the information technology services provider’s stock after acquiring an additional 19,595 shares during the period. ServiceNow makes up 0.9% of Los Angeles Capital Management LLC’s portfolio, making the stock its 19th biggest position. Los Angeles Capital Management LLC owned about 0.17% of ServiceNow worth $252,661,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. International Assets Investment Management LLC lifted its position in shares of ServiceNow by 69,354.6% in the 4th quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after buying an additional 820,465 shares during the last quarter. FMR LLC raised its position in shares of ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after buying an additional 595,697 shares in the last quarter. Jennison Associates LLC raised its position in shares of ServiceNow by 23.0% during the 3rd quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock worth $1,379,217,000 after buying an additional 461,614 shares in the last quarter. Cerity Partners LLC grew its stake in shares of ServiceNow by 1,073.7% in the 4th quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock worth $287,020,000 after purchasing an additional 371,648 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of ServiceNow in the 3rd quarter worth approximately $135,075,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul John Smith sold 1,180 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares of the company’s stock, valued at $1,067,831.04. The disclosure for this sale can be found here. Insiders sold a total of 11,369 shares of company stock valued at $8,538,300 over the last ninety days. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research reports. Jefferies Financial Group raised their price target on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research note on Thursday, April 25th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Thursday, April 25th. Wells Fargo & Company increased their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, Robert W. Baird increased their price objective on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $807.28.

ServiceNow Stock Up 1.1 %

Shares of ServiceNow stock traded up $7.55 on Thursday, hitting $693.16. The company had a trading volume of 498,346 shares, compared to its average volume of 1,213,638. The stock has a market capitalization of $142.36 billion, a price-to-earnings ratio of 73.90, a P/E/G ratio of 4.35 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $428.97 and a 1 year high of $815.32. The stock has a 50 day moving average of $755.91 and a 200-day moving average of $711.97. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.05.

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.