ServiceNow, Inc. (NYSE:NOW) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 5.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,531 shares of the information technology services provider’s stock after selling 1,252 shares during the quarter. Mediolanum International Funds Ltd’s holdings in ServiceNow were worth $20,715,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Creekmur Asset Management LLC purchased a new position in ServiceNow during the first quarter worth approximately $25,000. Versant Capital Management Inc boosted its position in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of ServiceNow in the second quarter valued at approximately $32,000. Finally, DT Investment Partners LLC lifted its position 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 valued at $35,000 after acquiring an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now owns 3,779 shares of the company’s stock, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,467 shares of company stock valued at $4,450,447. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW traded down $1.24 on Friday, hitting $955.34. 331,098 shares of the company’s stock were exchanged, compared to its average volume of 1,280,686. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s 50-day moving average price is $880.60 and its two-hundred day moving average price is $795.09. ServiceNow, Inc. has a fifty-two week low of $548.44 and a fifty-two week high of $979.78. The firm has a market cap of $196.80 billion, a price-to-earnings ratio of 172.95, a P/E/G ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. On average, research analysts expect that ServiceNow, Inc. will post 7.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday. Oppenheimer raised their target price on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler raised their target price on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday. JMP Securities lifted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 17th. Finally, Barclays lifted their price objective on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $970.22.

ServiceNow 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.