Bamco Inc. NY Sells 18,702 Shares of ServiceNow, Inc. (NYSE:NOW)

Bamco Inc. NY reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 19.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,244 shares of the information technology services provider’s stock after selling 18,702 shares during the period. Bamco Inc. NY’s holdings in ServiceNow were worth $67,297,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in ServiceNow during the 3rd quarter valued at about $30,000. Versant Capital Management Inc lifted its stake in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares in the last quarter. DT Investment Partners LLC lifted its stake in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after buying an additional 17 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of ServiceNow during the second quarter valued at approximately $32,000. Finally, Oakworth Capital Inc. increased its position in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 14 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 313 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,884,725.40. The trade was a 7.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,329 shares of company stock valued at $20,547,241. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Royal Bank of Canada increased their target price on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Robert W. Baird increased their price objective on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company lifted their price objective on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Evercore ISI upped their target price on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Mizuho lifted their price target on shares of ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $989.07.

ServiceNow Trading Up 0.8 %

NYSE:NOW opened at $1,049.44 on Monday. The firm has a 50-day simple moving average of $963.10 and a 200-day simple moving average of $847.50. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,072.84. The firm has a market cap of $216.18 billion, a P/E ratio of 163.21, a P/E/G ratio of 6.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company posted $1.21 earnings per share. Equities analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

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.