Wellington Management Group LLP Grows Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Wellington Management Group LLP increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 24.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,169,531 shares of the information technology services provider's stock after purchasing an additional 615,797 shares during the quarter. Wellington Management Group LLP owned approximately 1.54% of ServiceNow worth $2,834,797,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Polymer Capital Management HK LTD boosted its holdings in shares of ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock worth $2,416,000 after buying an additional 981 shares during the last quarter. AXA S.A. boosted its stake in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider's stock valued at $304,712,000 after acquiring an additional 4,271 shares during the last quarter. Avidian Wealth Enterprises LLC grew its position in shares of ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock valued at $436,000 after acquiring an additional 138 shares during the period. Venturi Wealth Management LLC increased its stake in shares of ServiceNow by 36.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock worth $2,565,000 after purchasing an additional 765 shares during the last quarter. Finally, HWG Holdings LP purchased a new stake in shares of ServiceNow during the 2nd quarter worth approximately $2,679,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Up 0.1 %

Shares of NOW stock traded up $0.62 during mid-day trading on Friday, reaching $1,124.34. The stock had a trading volume of 904,425 shares, compared to its average volume of 1,241,806. 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 stock's 50-day moving average price is $977.66 and its two-hundred day moving average price is $855.37. The firm has a market capitalization of $231.61 billion, a PE ratio of 174.86, a price-to-earnings-growth 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 $1,137.00.

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 analysts' consensus estimates 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 analyst estimates of $2.75 billion. During the same quarter in the prior year, the company posted $1.21 EPS. ServiceNow's quarterly revenue was up 22.2% compared to the same quarter last year. Equities analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent research reports. Morgan Stanley downgraded ServiceNow from an "overweight" rating to an "equal weight" rating and raised their target price for the stock from $900.00 to $960.00 in a research report on Monday, October 21st. Citigroup lifted their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a "buy" rating in a report on Friday, October 25th. UBS Group upped their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $820.00 to $950.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Finally, Mizuho upped their price target on shares of ServiceNow from $980.00 to $1,070.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. One equities research 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 stock. According to data from MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and a consensus price target of $1,011.26.

Insider Buying and Selling at ServiceNow

In related news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction that occurred 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 sale, the director now directly owns 10,467 shares in the company, valued at $10,968,892.65. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now owns 2,595 shares of the company's stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,629 shares of company stock valued at $20,861,626. 0.25% of the stock is currently owned by company insiders.

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.