ServiceNow, Inc. (NYSE:NOW) is Sandhill Capital Partners LLC’s 4th Largest Position

Sandhill Capital Partners LLC lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 17.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,367 shares of the information technology services provider’s stock after selling 15,851 shares during the quarter. ServiceNow makes up approximately 4.5% of Sandhill Capital Partners LLC’s portfolio, making the stock its 4th biggest position. Sandhill Capital Partners LLC’s holdings in ServiceNow were worth $53,952,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NOW. PFG Private Wealth Management LLC purchased a new stake in ServiceNow in the third quarter worth $28,000. AdvisorNet Financial Inc lifted its stake in ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares during the period. Steward Financial Group LLC lifted its stake in ServiceNow by 125.0% in the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 35 shares during the period. Princeton Global Asset Management LLC bought a new position in ServiceNow in the third quarter worth $35,000. Finally, Disciplined Equity Management Inc. bought a new position in ServiceNow in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock valued at $9,940,303 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NOW stock traded down $30.04 during midday trading on Thursday, hitting $716.25. The company’s stock had a trading volume of 3,366,891 shares, compared to its average volume of 1,213,611. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $147.10 billion, a price-to-earnings ratio of 85.17, a price-to-earnings-growth ratio of 4.68 and a beta of 0.97. The company has a 50 day moving average of $761.32 and a two-hundred day moving average of $706.74.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. On average, analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price objective on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Jefferies Financial Group increased their price objective on ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Stifel Nicolaus restated a “buy” rating and set a $820.00 price target on shares of ServiceNow in a report on Wednesday, March 20th. Barclays raised their price target on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Finally, BMO Capital Markets reduced their price target on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $782.85.

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.