Metis Global Partners LLC grew its stake in ServiceNow, Inc. (NYSE:NOW – Get Rating) by 19.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,345 shares of the information technology services provider's stock after buying an additional 702 shares during the period. Metis Global Partners LLC's holdings in ServiceNow were worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in NOW. High Net Worth Advisory Group LLC bought a new stake in ServiceNow in the first quarter worth approximately $29,000. Tortoise Investment Management LLC lifted its holdings in ServiceNow by 55.0% during the second quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 22 shares during the period. Vigilant Capital Management LLC raised its position in ServiceNow by 300.0% in the third quarter. Vigilant Capital Management LLC now owns 96 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 72 shares during the period. Motco purchased a new position in ServiceNow in the third quarter valued at about $37,000. Finally, Ronald Blue Trust Inc. purchased a new position in ServiceNow in the second quarter valued at about $54,000. 86.31% of the stock is currently owned by institutional investors.
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Analysts Set New Price Targets
Several equities research analysts have issued reports on NOW shares. Wolfe Research lifted their target price on shares of ServiceNow from $500.00 to $510.00 and gave the company an "outperform" rating in a research report on Thursday, January 26th. Morgan Stanley lifted their price objective on ServiceNow from $520.00 to $612.00 and gave the stock an "overweight" rating in a research report on Monday, December 19th. Royal Bank of Canada upped their target price on shares of ServiceNow from $500.00 to $510.00 in a research report on Thursday, January 26th. Capital One Financial assumed coverage on shares of ServiceNow in a research note on Monday, October 31st. They set an "overweight" rating and a $516.00 price objective on the stock. Finally, Credit Suisse Group cut their target price on ServiceNow from $600.00 to $575.00 and set an "outperform" rating on the stock in a research note on Friday, January 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $517.47.
ServiceNow Stock Down 3.9 %
Shares of NYSE:NOW opened at $472.22 on Friday. ServiceNow, Inc. has a 12-month low of $337.00 and a 12-month high of $621.41. The stock's 50-day moving average price is $408.23 and its two-hundred day moving average price is $417.51. The firm has a market cap of $95.86 billion, a price-to-earnings ratio of 295.14, a PEG ratio of 6.48 and a beta of 0.99. The company has a current ratio of 1.11, a quick ratio of 1.24 and a debt-to-equity ratio of 0.30.
Insider Transactions at ServiceNow
In related news, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $387.01, for a total transaction of $2,554,266.00. Following the sale, the director now owns 30,600 shares of the company's stock, valued at approximately $11,842,506. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jacqueline P. Canney sold 1,083 shares of the stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $461.03, for a total value of $499,295.49. Following the completion of the transaction, the insider now owns 267 shares in the company, valued at approximately $123,095.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederic B. Luddy sold 6,600 shares of ServiceNow stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $387.01, for a total transaction of $2,554,266.00. Following the completion of the transaction, the director now directly owns 30,600 shares in the company, valued at approximately $11,842,506. The disclosure for this sale can be found here. Insiders sold 11,960 shares of company stock valued at $4,893,041 over the last 90 days. Corporate insiders own 0.28% of the company's stock.
About ServiceNow
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ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.
Further Reading
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