Westwind Capital Grows Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Westwind Capital boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 41.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,131 shares of the information technology services provider’s stock after acquiring an additional 6,798 shares during the period. ServiceNow accounts for about 5.3% of Westwind Capital’s investment portfolio, making the stock its 7th largest position. Westwind Capital’s holdings in ServiceNow were worth $24,522,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Truvestments Capital LLC purchased a new position in shares of ServiceNow in the third quarter valued at about $30,000. DT Investment Partners LLC lifted its holdings in ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 17 shares in the last quarter. Oakworth Capital Inc. raised its position in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after buying an additional 14 shares during the last quarter. Semmax Financial Advisors Inc. bought a new position in shares of ServiceNow during the second quarter worth $39,000. Finally, Dunhill Financial LLC grew its stake in ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 21 shares in 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 Jacqueline P. Canney sold 76 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were 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 directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. This trade represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,629 shares of company stock worth $20,861,626. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NOW stock traded down $29.62 during mid-day trading on Tuesday, reaching $1,047.43. 758,909 shares of the company’s stock were exchanged, compared to its average volume of 864,584. The company has a market cap of $215.77 billion, a price-to-earnings ratio of 162.90, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,157.90. The stock’s 50 day moving average is $1,056.15 and its 200 day moving average is $915.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the company earned $1.21 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. On average, research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Oppenheimer increased their price objective on shares of ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Scotiabank initiated coverage on shares of ServiceNow in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. Citigroup lifted their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. UBS Group lifted their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,061.04.

ServiceNow 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.