ServiceNow, Inc. (NYSE:NOW) is Yarra Square Partners LP’s 9th Largest Position

Yarra Square Partners LP decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 9.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,448 shares of the information technology services provider’s stock after selling 710 shares during the quarter. ServiceNow comprises about 4.3% of Yarra Square Partners LP’s investment portfolio, making the stock its 9th biggest holding. Yarra Square Partners LP’s holdings in ServiceNow were worth $4,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of ServiceNow by 0.7% in the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock worth $9,923,653,000 after buying an additional 122,577 shares in the last quarter. Jennison Associates LLC grew its stake in ServiceNow by 2.2% in the fourth quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider’s stock worth $1,781,195,000 after purchasing an additional 53,719 shares in the last quarter. Norges Bank bought a new position in ServiceNow in the fourth quarter worth approximately $1,648,259,000. Massachusetts Financial Services Co. MA boosted its position in ServiceNow by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,281,748 shares of the information technology services provider’s stock valued at $1,612,032,000 after acquiring an additional 81,028 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of ServiceNow by 18.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after purchasing an additional 271,153 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In related news, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $738.88, for a total value of $1,329,984.00. Following the completion of the sale, the chief financial officer now directly owns 13,290 shares of the company’s stock, valued at approximately $9,819,715.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total value of $150,500.00. Following the sale, the insider now directly owns 15,892 shares in the company, valued at approximately $11,124,400. The disclosure for this sale can be found here. Insiders sold 5,530 shares of company stock valued at $3,997,012 in the last quarter. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 1.2 %

Shares of NOW traded up $9.35 during trading hours on Friday, hitting $758.49. The stock had a trading volume of 898,086 shares, compared to its average volume of 1,288,436. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $815.32. The firm has a 50 day simple moving average of $737.75 and a 200-day simple moving average of $745.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $155.49 billion, a P/E ratio of 81.12, a price-to-earnings-growth ratio of 4.66 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Sell-side analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

Analysts Set New Price Targets

NOW has been the subject of a number of research analyst reports. Jefferies Financial Group raised their target price on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Tuesday, May 7th. Guggenheim reissued a “sell” rating and issued a $640.00 target price on shares of ServiceNow in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research note on Monday. Finally, Citigroup lifted their price target on shares of ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $812.60.

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.