HighVista Strategies LLC Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

HighVista Strategies LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,700 shares of the information technology services provider's stock, valued at approximately $1,520,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AXA S.A. raised its stake in shares of ServiceNow by 1.1% in the 2nd 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 in the last quarter. Avidian Wealth Enterprises LLC increased its stake in ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock valued at $436,000 after buying an additional 138 shares during the period. Venturi Wealth Management LLC grew its stake in ServiceNow by 36.4% in 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 purchasing an additional 765 shares in the last quarter. HWG Holdings LP bought a new stake in ServiceNow in the second quarter valued at about $2,679,000. Finally, Brookstone Capital Management lifted its stake in ServiceNow by 25.5% during the second quarter. Brookstone Capital Management now owns 14,394 shares of the information technology services provider's stock worth $10,595,000 after purchasing an additional 2,928 shares during the period. Institutional investors own 87.18% of the company's stock.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 300 shares of the company's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the transaction, the director now owns 10,467 shares of the company's stock, valued at $10,968,892.65. This trade represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,629 shares of company stock worth $20,861,626. Company insiders own 0.25% of the company's stock.

ServiceNow Stock Performance

NYSE:NOW traded up $8.89 during mid-day trading on Tuesday, reaching $1,057.32. 1,229,466 shares of the company's stock were exchanged, compared to its average volume of 1,279,848. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $217.81 billion, a PE ratio of 164.44, a price-to-earnings-growth ratio of 6.02 and a beta of 0.99. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,072.84. The business's fifty day simple moving average is $963.10 and its two-hundred day simple moving average is $847.50.

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

Analyst Ratings Changes

Several equities analysts recently commented on the company. Piper Sandler raised their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Royal Bank of Canada upped their target price on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Jefferies Financial Group raised their price objective on shares of ServiceNow from $1,100.00 to $1,250.00 and gave the stock a "buy" rating in a report on Monday. Sanford C. Bernstein upped their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Finally, Scotiabank initiated coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a "sector outperform" rating and a $1,230.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $999.07.

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.