Y Intercept Hong Kong Ltd Purchases Shares of 616 ServiceNow, Inc. (NYSE:NOW)

Y Intercept Hong Kong Ltd acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 616 shares of the information technology services provider's stock, valued at approximately $551,000.

Several other institutional investors have also recently made changes to their positions in the stock. Truvestments Capital LLC acquired a new stake in ServiceNow in the 3rd quarter valued at $30,000. Ridgewood Investments LLC bought a new position in shares of ServiceNow in the second quarter valued at $32,000. DT Investment Partners LLC grew its holdings in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock valued at $35,000 after buying an additional 17 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of ServiceNow during the second quarter worth about $39,000. Finally, Semmax Financial Advisors Inc. acquired a new stake in shares of ServiceNow in the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of analyst reports. JMP Securities lifted their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a "market outperform" rating in a research note on Thursday, October 17th. BMO Capital Markets upped their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. Scotiabank started coverage on ServiceNow in a research report on Tuesday, November 19th. They issued a "sector outperform" rating and a $1,230.00 price target for the company. Sanford C. Bernstein lifted their price objective on shares of ServiceNow from $906.00 to $913.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company increased their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $1,034.96.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 2,229 shares of the company'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 transaction, the director now directly owns 11,000 shares in the company, valued at $11,710,600. This represents a 16.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the firm's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over 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 corporate insiders.

ServiceNow Stock Performance

NOW stock traded up $8.94 during midday trading on Monday, reaching $1,130.04. 1,186,022 shares of the company's stock traded hands, compared to its average volume of 1,279,292. The firm has a market capitalization of $232.79 billion, a PE ratio of 175.74, a price-to-earnings-growth ratio of 6.58 and a beta of 0.99. The company has a 50-day moving average price of $1,011.30 and a two-hundred day moving average price of $876.30. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

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 (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 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 company posted $1.21 EPS. The firm's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current 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.