Sienna Gestion Makes New Investment in ServiceNow, Inc. $NOW

Sienna Gestion acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,650 shares of the information technology services provider’s stock, valued at approximately $6,419,000.

Several other large investors have also made changes to their positions in NOW. Fieldview Capital Management LLC purchased a new position in shares of ServiceNow during the 3rd quarter valued at approximately $1,333,000. WINTON GROUP Ltd increased its holdings in ServiceNow by 52.5% in the 3rd quarter. WINTON GROUP Ltd now owns 2,483 shares of the information technology services provider’s stock worth $2,285,000 after acquiring an additional 855 shares in the last quarter. LGT Fund Management Co Ltd. raised its position in ServiceNow by 6.0% during the third quarter. LGT Fund Management Co Ltd. now owns 2,680 shares of the information technology services provider’s stock worth $2,445,000 after acquiring an additional 151 shares during the period. Russell Investments Group Ltd. raised its position in ServiceNow by 5.4% during the third quarter. Russell Investments Group Ltd. now owns 359,216 shares of the information technology services provider’s stock worth $331,188,000 after acquiring an additional 18,387 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in ServiceNow by 8.2% during the third quarter. Schroder Investment Management Group now owns 454,252 shares of the information technology services provider’s stock valued at $418,039,000 after purchasing an additional 34,237 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research reports. Oppenheimer reissued an “outperform” rating and set a $175.00 target price (down from $200.00) on shares of ServiceNow in a research note on Wednesday, January 21st. BNP Paribas Exane decreased their price target on shares of ServiceNow from $186.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Zacks Research cut ServiceNow from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Guggenheim upgraded ServiceNow from a “sell” rating to a “neutral” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a report on Thursday, January 22nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $192.06.

ServiceNow Stock Performance

NOW opened at $124.43 on Monday. ServiceNow, Inc. has a twelve month low of $98.00 and a twelve month high of $211.48. The firm has a market capitalization of $130.15 billion, a PE ratio of 74.60, a PEG ratio of 2.10 and a beta of 0.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average price is $122.89 and its 200 day moving average price is $157.18.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 28th. The information technology services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. ServiceNow had a net margin of 13.16% and a return on equity of 18.54%. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. ServiceNow’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity

In related news, insider Kevin Thomas Mcbride sold 1,400 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $105.71, for a total value of $147,994.00. Following the completion of the sale, the insider owned 26,314 shares of the company’s stock, valued at approximately $2,781,652.94. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $101.17, for a total value of $151,755.00. Following the completion of the sale, the director owned 46,430 shares of the company’s stock, valued at approximately $4,697,323.10. The trade was a 3.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 16,237 shares of company stock worth $1,697,162 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

About ServiceNow

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.