Thematics Asset Management Lowers Stake in ServiceNow, Inc. (NYSE:NOW)

Thematics Asset Management decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 81,310 shares of the information technology services provider’s stock after selling 3,435 shares during the quarter. ServiceNow makes up 2.9% of Thematics Asset Management’s investment portfolio, making the stock its 2nd largest position. Thematics Asset Management’s holdings in ServiceNow were worth $72,723,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NOW. FMR LLC increased its holdings in shares of ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the period. Fisher Asset Management LLC increased its stake in ServiceNow by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 1,662,968 shares of the information technology services provider’s stock worth $1,487,343,000 after acquiring an additional 56,830 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of ServiceNow by 11.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,620,298 shares of the information technology services provider’s stock valued at $1,449,178,000 after acquiring an additional 167,847 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after acquiring an additional 34,855 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after purchasing an additional 935,848 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 0.9 %

Shares of NYSE NOW traded up $9.18 on Tuesday, reaching $1,061.89. 109,148 shares of the company’s stock traded hands, compared to its average volume of 1,282,485. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The business’s 50 day simple moving average is $951.73 and its two-hundred day simple moving average is $838.61. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,068.88. The company has a market cap of $218.75 billion, a price-to-earnings ratio of 163.74, a price-to-earnings-growth ratio of 6.09 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 EPS. As a group, equities research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NOW has been the subject of several research analyst reports. BMO Capital Markets lifted their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Royal Bank of Canada boosted their price target on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Cowen lifted their price objective on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a report on Monday, October 21st. UBS Group increased their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Robert W. Baird lifted their price target on ServiceNow from $900.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $989.07.

Insider Activity

In related news, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the sale, the insider now owns 3,027 shares in the company, valued at approximately $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,787 shares of company stock valued at $17,841,028 in the last 90 days. 0.25% of the stock is currently owned by 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.