ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 57.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,701 shares of the information technology services provider’s stock after purchasing an additional 981 shares during the period. Polymer Capital Management HK LTD’s holdings in ServiceNow were worth $2,416,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NOW. Truvestments Capital LLC purchased a new position in shares of ServiceNow during the 3rd quarter valued at approximately $30,000. Versant Capital Management Inc grew its stake in 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 purchasing an additional 28 shares in the last quarter. DT Investment Partners LLC increased its holdings in ServiceNow by 77.3% in 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. Ridgewood Investments LLC acquired a new stake in ServiceNow during the second quarter valued at approximately $32,000. Finally, Oakworth Capital Inc. lifted its holdings in ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after buying an additional 14 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 0.8 %

Shares of ServiceNow stock opened at $1,056.62 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,072.84. The firm has a market capitalization of $217.66 billion, a PE ratio of 164.33, a price-to-earnings-growth ratio of 6.02 and a beta of 0.99. The stock’s fifty day moving average is $968.22 and its 200-day moving average is $851.60.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the business earned $1.21 EPS. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research analyst reports. Needham & Company LLC raised their price objective on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. TD Cowen boosted their price objective on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Stifel Nicolaus raised their target price on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Mizuho increased their price target on ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Barclays boosted their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One research 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $999.07.

Insider Buying and Selling at ServiceNow

In related news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,629 shares of company stock worth $20,861,626 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

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.