ServiceNow, Inc. (NYSE:NOW) is Grafton Street Partners Fund LP’s 9th Largest Position

Grafton Street Partners Fund LP decreased its position in ServiceNow, Inc. (NYSE:NOW) by 20.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,214 shares of the information technology services provider’s stock after selling 1,800 shares during the period. ServiceNow accounts for 5.1% of Grafton Street Partners Fund LP’s investment portfolio, making the stock its 9th biggest holding. Grafton Street Partners Fund LP’s holdings in ServiceNow were worth $6,452,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NOW. International Assets Investment Management LLC increased its stake in shares of ServiceNow by 89,137.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Swedbank AB purchased a new stake in shares of ServiceNow during the 1st quarter worth approximately $897,908,000. Vanguard Group Inc. increased its stake in shares of ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after purchasing an additional 331,797 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in ServiceNow in the 2nd quarter valued at approximately $218,786,000. Finally, Acadian Asset Management LLC grew its stake in ServiceNow by 233.4% in the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after buying an additional 271,073 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,359 shares of company stock worth $5,038,241. 0.25% of the stock is currently owned by company insiders.

ServiceNow Price Performance

NOW stock opened at $1,048.29 on Wednesday. The firm’s 50-day moving average price is $920.45 and its two-hundred day moving average price is $818.12. ServiceNow, Inc. has a 12-month low of $632.25 and a 12-month high of $1,053.26. The stock has a market capitalization of $215.95 billion, a price-to-earnings ratio of 163.03, a PEG ratio of 5.95 and a beta of 0.98. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on NOW. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research note on Tuesday. Mizuho lifted their price objective on shares of ServiceNow from $850.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada lifted their price objective on shares of ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Oppenheimer lifted their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $974.04.

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.