Y Intercept Hong Kong Ltd Purchases Shares of 616 ServiceNow, Inc. (NYSE:NOW)

Y Intercept Hong Kong Ltd acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 616 shares of the information technology services provider’s stock, valued at approximately $551,000.

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

Analysts Set New Price Targets

Several brokerages recently commented on NOW. Piper Sandler upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Mizuho upped their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research note on Friday. Barclays increased their price target on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Jefferies Financial Group boosted their price objective on ServiceNow from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $1,034.96.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, 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 value of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,629 shares of company stock worth $20,861,626 over the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NOW stock opened at $1,121.10 on Monday. The company has a market cap of $230.95 billion, a P/E ratio of 174.35, a PEG ratio of 6.58 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s 50-day moving average is $1,006.82 and its 200 day moving average is $872.87. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90.

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, topping analysts’ consensus estimates of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. Research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

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.