ServiceNow, Inc. (NYSE:NOW) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 172.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 161 shares of the information technology services provider’s stock after purchasing an additional 102 shares during the period. Versant Capital Management Inc’s holdings in ServiceNow were worth $171,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NOW. Polymer Capital Management HK LTD boosted its position in shares of ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after buying an additional 981 shares during the period. AXA S.A. boosted its holdings in shares of ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after purchasing an additional 4,271 shares during the period. Avidian Wealth Enterprises LLC grew its position in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after purchasing an additional 138 shares in the last quarter. Venturi Wealth Management LLC lifted its position in ServiceNow by 36.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after buying an additional 765 shares in the last quarter. Finally, HWG Holdings LP acquired a new stake in shares of ServiceNow during the 2nd quarter valued at $2,679,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 1,867 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $1,023.97, for a total value of $1,911,751.99. Following the sale, the general counsel now owns 6,843 shares of the company’s stock, valued at approximately $7,007,026.71. This represents a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,629 shares of company stock worth $20,861,626. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Up 1.8 %

NOW stock opened at $1,073.77 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $221.20 billion, a PE ratio of 166.99, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The business’s 50-day simple moving average is $1,051.07 and its 200 day simple moving average is $908.48.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping 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 return on equity of 16.03% and a net margin of 12.77%. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 EPS. On average, research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NOW shares. Piper Sandler lifted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup lifted their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a report on Friday, October 25th. Jefferies Financial Group increased their price objective on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group lifted their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada increased their price target on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,053.89.

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.