ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,521,190 shares of the information technology services provider’s stock after purchasing an additional 53,719 shares during the period. ServiceNow makes up approximately 1.3% of Jennison Associates LLC’s holdings, making the stock its 24th biggest holding. Jennison Associates LLC’s holdings in ServiceNow were worth $1,781,195,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sepio Capital LP raised its position in shares of ServiceNow by 7.8% in the 4th quarter. Sepio Capital LP now owns 1,171 shares of the information technology services provider’s stock valued at $827,000 after purchasing an additional 85 shares in the last quarter. OLD National Bancorp IN raised its position in shares of ServiceNow by 24.4% in the 4th quarter. OLD National Bancorp IN now owns 1,024 shares of the information technology services provider’s stock valued at $723,000 after purchasing an additional 201 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of ServiceNow by 72.4% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 705 shares of the information technology services provider’s stock valued at $498,000 after purchasing an additional 296 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of ServiceNow by 14.7% in the 4th quarter. Handelsbanken Fonder AB now owns 68,064 shares of the information technology services provider’s stock valued at $48,087,000 after purchasing an additional 8,704 shares in the last quarter. Finally, CWM LLC raised its position in shares of ServiceNow by 0.3% in the 4th quarter. CWM LLC now owns 23,031 shares of the information technology services provider’s stock valued at $16,271,000 after purchasing an additional 70 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NOW. Stifel Nicolaus reaffirmed a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research report on Wednesday, March 20th. 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 report on Thursday, January 25th. Needham & Company LLC restated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research note on Tuesday, April 16th. KeyCorp started coverage on ServiceNow in a research note on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price objective for the company. Finally, UBS Group upped their price objective on ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $780.37.

Insider Activity

In other news, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the transaction, the insider now directly owns 994 shares in the company, valued at $776,373.64. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock valued at $9,940,303 over the last three months. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $0.10 during trading on Monday, hitting $713.81. The stock had a trading volume of 502,655 shares, compared to its average volume of 1,166,662. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $146.60 billion, a P/E ratio of 84.63, a PEG ratio of 4.51 and a beta of 0.97. The business has a fifty day moving average of $764.19 and a two-hundred day moving average of $703.95. ServiceNow, Inc. has a fifty-two week low of $427.68 and a fifty-two week high of $815.32.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the business posted $0.88 earnings per share. ServiceNow’s revenue was up 25.6% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal 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.