Wilmington Savings Fund Society FSB Takes Position in ServiceNow, Inc. (NYSE:NOW)

Wilmington Savings Fund Society FSB purchased a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,568 shares of the information technology services provider's stock, valued at approximately $3,191,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOW. World Investment Advisors LLC boosted its stake in ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider's stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the period. International Assets Investment Management LLC increased its position in shares of ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider's stock valued at $1,059,912,000 after buying an additional 1,183,739 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider's stock worth $1,206,178,000 after buying an additional 935,848 shares in the last quarter. Wellington Management Group LLP lifted its position in ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider's stock worth $2,834,797,000 after buying an additional 615,797 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider's stock worth $5,014,302,000 after buying an additional 502,845 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NOW shares. Jefferies Financial Group lifted their target price on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a report on Monday, December 2nd. Sanford C. Bernstein increased their price objective on ServiceNow from $906.00 to $913.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on ServiceNow from $820.00 to $950.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, Oppenheimer raised their price target on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and an average target price of $1,034.96.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $3,173,173.83. The trade was a 2.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul Edward Chamberlain sold 300 shares of the firm's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the completion of the transaction, the director now owns 10,467 shares of the company's stock, valued at $10,968,892.65. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock worth $20,861,626 over the last quarter. 0.25% of the stock is currently owned by company insiders.

ServiceNow Price Performance

NYSE NOW traded down $27.32 during trading hours on Friday, reaching $1,121.10. 1,347,291 shares of the company's stock were exchanged, compared to its average volume of 1,279,685. The firm has a fifty day moving average of $1,006.82 and a 200-day moving average of $870.89. 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, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The stock has a market cap of $230.95 billion, a PE ratio of 174.35, a price-to-earnings-growth ratio of 6.58 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow's revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. On average, equities research analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

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.