O Shaughnessy Asset Management LLC Boosts Stake in ServiceNow, Inc. $NOW

O Shaughnessy Asset Management LLC raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 412.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 157,785 shares of the information technology services provider’s stock after purchasing an additional 126,992 shares during the period. O Shaughnessy Asset Management LLC’s holdings in ServiceNow were worth $24,171,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NOW. Norges Bank acquired a new stake in ServiceNow in the 4th quarter worth approximately $2,020,992,000. Cohen Klingenstein LLC boosted its stake in ServiceNow by 400.0% in the 4th quarter. Cohen Klingenstein LLC now owns 10,000 shares of the information technology services provider’s stock worth $1,532,000 after purchasing an additional 8,000 shares in the last quarter. World Investment Advisors boosted its stake in ServiceNow by 411.7% in the 4th quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock worth $7,218,000 after purchasing an additional 38,583 shares in the last quarter. Moors & Cabot Inc. boosted its stake in ServiceNow by 387.7% in the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after purchasing an additional 36,274 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in ServiceNow by 385.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,599,397 shares of the information technology services provider’s stock worth $398,202,000 after purchasing an additional 2,064,440 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 1.8%

Shares of NOW stock opened at $114.43 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $117.98 billion, a price-to-earnings ratio of 68.20, a PEG ratio of 1.86 and a beta of 0.94. The stock has a 50 day simple moving average of $99.69 and a 200-day simple moving average of $121.36. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $211.48.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. On average, equities research analysts expect that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insider Activity

In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director directly owned 44,930 shares of the company’s stock, valued at approximately $3,919,243.90. This trade represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 28,071 shares of company stock worth $2,529,956. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on NOW. Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Stifel Nicolaus decreased their price objective on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. UBS Group restated an “outperform” rating on shares of ServiceNow in a research note on Tuesday, May 26th. Finally, Robert W. Baird decreased their price objective on shares of ServiceNow from $125.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.85.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.