Geode Capital Management LLC Purchases 78,378 Shares of ServiceNow, Inc. (NYSE:NOW)

Geode Capital Management LLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,211,901 shares of the information technology services provider's stock after purchasing an additional 78,378 shares during the quarter. Geode Capital Management LLC owned approximately 2.04% of ServiceNow worth $3,753,828,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NOW. NorthCrest Asset Manangement LLC boosted its position in ServiceNow by 2.0% during the second quarter. NorthCrest Asset Manangement LLC now owns 1,057 shares of the information technology services provider's stock worth $832,000 after purchasing an additional 21 shares during the period. Deltec Asset Management LLC acquired a new position in ServiceNow during the 2nd quarter worth $971,000. ORG Partners LLC boosted its holdings in ServiceNow by 1,623.8% during the second quarter. ORG Partners LLC now owns 724 shares of the information technology services provider's stock valued at $571,000 after acquiring an additional 682 shares during the period. GPS Wealth Strategies Group LLC grew its position in shares of ServiceNow by 4.9% in the second quarter. GPS Wealth Strategies Group LLC now owns 8,336 shares of the information technology services provider's stock valued at $6,558,000 after purchasing an additional 389 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of ServiceNow by 5.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 26,725 shares of the information technology services provider's stock worth $21,024,000 after purchasing an additional 1,445 shares during the period. Institutional investors own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In other news, Director Anita M. Sands sold 2,229 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at $11,710,600. This trade represents a 16.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the sale, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock valued at $20,861,626 over the last quarter. Corporate insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research analyst reports. UBS Group raised their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Citigroup boosted their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Piper Sandler upped their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Mizuho raised their price target on shares of ServiceNow from $980.00 to $1,070.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. Finally, Robert W. Baird increased their target price on shares of ServiceNow from $900.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,022.37.

ServiceNow Trading Up 0.7 %

Shares of NOW traded up $7.36 during trading hours on Tuesday, reaching $1,127.84. The stock had a trading volume of 1,554,646 shares, compared to its average volume of 1,281,849. The company has a market cap of $232.34 billion, a P/E ratio of 175.40, a P/E/G ratio of 6.45 and a beta of 0.99. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,147.37. 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 firm has a 50-day moving average of $987.03 and a 200 day moving average of $861.55.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share 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 return on equity of 16.03% and a net margin of 12.77%. ServiceNow's revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 EPS. On average, sell-side analysts expect 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.