Jackson Square Capital LLC Has $6.74 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Jackson Square Capital LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1,442.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,354 shares of the information technology services provider's stock after buying an additional 5,942 shares during the quarter. ServiceNow accounts for about 1.6% of Jackson Square Capital LLC's portfolio, making the stock its 14th biggest holding. Jackson Square Capital LLC's holdings in ServiceNow were worth $6,736,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Redhawk Wealth Advisors Inc. increased its position in shares of ServiceNow by 2.2% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $487,000 after acquiring an additional 10 shares during the last quarter. Catalyst Financial Partners LLC grew its stake in ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider's stock valued at $1,025,000 after purchasing an additional 11 shares in the last quarter. First Affirmative Financial Network increased its position in shares of ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider's stock worth $801,000 after purchasing an additional 12 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider's stock worth $84,000 after purchasing an additional 12 shares in the last quarter. Finally, BluePointe Capital Management LLC boosted its holdings in shares of ServiceNow by 0.6% in the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider's stock valued at $1,801,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 2,229 shares of the business's stock in a transaction that occurred on 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 transaction, the director now directly owns 11,000 shares of the company's stock, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,731 shares of company stock valued at $21,016,751 over the last quarter. 0.25% of the stock is owned by company insiders.

ServiceNow Price Performance

NOW stock traded up $14.86 during mid-day trading on Friday, hitting $1,072.02. The stock had a trading volume of 1,079,535 shares, compared to its average volume of 944,889. The firm has a fifty day simple moving average of $1,069.67 and a 200 day simple moving average of $932.23. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $220.84 billion, a P/E ratio of 166.72, a P/E/G ratio of 4.65 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last announced 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 net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period in the previous year, the firm posted $1.21 EPS. The firm's revenue was up 22.2% on a year-over-year basis. As a group, research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NOW. BMO Capital Markets boosted their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. StockNews.com upgraded shares of ServiceNow from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. raised their target price on shares of ServiceNow from $820.00 to $950.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Robert W. Baird boosted their price target on ServiceNow from $900.00 to $975.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald began coverage on ServiceNow in a research report on Friday. They issued an "overweight" rating and a $1,332.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,080.38.

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.