Polymer Capital Management HK LTD Has $2.42 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Polymer Capital Management HK LTD boosted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 57.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,701 shares of the information technology services provider's stock after buying an additional 981 shares during the quarter. Polymer Capital Management HK LTD's holdings in ServiceNow were worth $2,416,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NOW. Truvestments Capital LLC purchased a new stake in shares of ServiceNow during the third quarter valued at $30,000. Versant Capital Management Inc boosted its holdings in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider's stock worth $27,000 after buying an additional 28 shares during the period. DT Investment Partners LLC increased its position in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after acquiring an additional 17 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of ServiceNow in the 2nd quarter valued at approximately $32,000. Finally, Oakworth Capital Inc. boosted its stake in ServiceNow by 46.7% in the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock worth $39,000 after purchasing an additional 14 shares during the period. Institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Evercore ISI raised their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Needham & Company LLC upped their target price on ServiceNow from $1,075.00 to $1,150.00 and gave the company a "buy" rating in a report on Monday, November 25th. Royal Bank of Canada raised their price target 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. JPMorgan Chase & Co. upped their price objective 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. Finally, Barclays boosted their price target on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $999.07.

Insider Transactions at ServiceNow

In related news, Director Anita M. Sands sold 2,229 shares of the 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 transaction of $2,372,993.40. Following the completion of the sale, the director now directly owns 11,000 shares of the company's stock, valued at approximately $11,710,600. This represents a 16.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,884,725.40. The trade was a 7.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,629 shares of company stock worth $20,861,626. 0.25% of the stock is currently owned by company insiders.

ServiceNow Price Performance

Shares of NYSE NOW traded up $65.81 during trading on Wednesday, reaching $1,123.13. The company had a trading volume of 2,056,379 shares, compared to its average volume of 1,283,425. The stock has a market cap of $231.36 billion, a PE ratio of 164.33, a PEG ratio of 6.02 and a beta of 0.99. 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 business's 50 day moving average price is $968.22 and its 200-day moving average price is $851.60. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,126.63.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $2.75 billion. During the same quarter in the previous year, the company earned $1.21 EPS. ServiceNow's revenue was up 22.2% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.