Syon Capital LLC Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

Syon Capital LLC lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 51.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 810 shares of the information technology services provider’s stock after purchasing an additional 276 shares during the quarter. Syon Capital LLC’s holdings in ServiceNow were worth $572,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after buying an additional 122,577 shares in the last quarter. FMR LLC increased its holdings in ServiceNow by 17.3% in 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 increased its holdings in ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after buying an additional 53,719 shares in the last quarter. Northern Trust Corp increased its holdings in ServiceNow by 1.8% in the 3rd quarter. Northern Trust Corp now owns 2,202,293 shares of the information technology services provider’s stock worth $1,230,994,000 after buying an additional 39,259 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in ServiceNow by 3.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,200,720 shares of the information technology services provider’s stock worth $1,230,114,000 after buying an additional 72,570 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO William R. Mcdermott sold 5,030 shares of the firm’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 transaction, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock valued at $9,940,303 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NOW shares. KeyCorp cut their price target on ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research note on Thursday. Royal Bank of Canada boosted their price target on ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. The Goldman Sachs Group boosted their price target on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Barclays boosted their price target on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Finally, Mizuho boosted their price target on ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $782.85.

ServiceNow Stock Up 1.0 %

ServiceNow stock traded up $7.30 during midday trading on Friday, reaching $723.55. The company’s stock had a trading volume of 1,439,853 shares, compared to its average volume of 1,216,592. The stock’s 50-day simple moving average is $760.05 and its 200-day simple moving average is $706.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32. The stock has a market capitalization of $148.60 billion, a P/E ratio of 78.27, a PEG ratio of 4.72 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 14.00% and a net margin of 20.34%. The firm’s revenue was up 25.6% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. On average, sell-side analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current year.

About ServiceNow

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.