ServiceNow, Inc. (NYSE:NOW) Shares Sold by Lakehouse Capital Pty Ltd

Lakehouse Capital Pty Ltd cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 21.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,972 shares of the information technology services provider’s stock after selling 3,860 shares during the period. ServiceNow comprises approximately 8.8% of Lakehouse Capital Pty Ltd’s investment portfolio, making the stock its 3rd biggest holding. Lakehouse Capital Pty Ltd’s holdings in ServiceNow were worth $12,496,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. M&G Plc purchased a new stake in shares of ServiceNow in the 1st quarter valued at approximately $11,030,000. AXA S.A. increased its holdings in shares of ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after acquiring an additional 4,271 shares during the period. HWG Holdings LP acquired a new position in shares of ServiceNow in the 2nd quarter valued at $2,679,000. New Mexico Educational Retirement Board increased its holdings in shares of ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock valued at $8,882,000 after acquiring an additional 1,000 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in ServiceNow by 375.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock valued at $1,041,000 after buying an additional 1,078 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on NOW shares. Evercore ISI boosted their target price on shares of ServiceNow from $850.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday. Truist Financial upped their price objective on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. BMO Capital Markets increased their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday. Canaccord Genuity Group restated a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $875.81.

Insider Activity

In other news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the sale, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 804 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total value of $652,848.00. Following the sale, the insider now owns 3,027 shares in the company, valued at $2,457,924. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,914 shares of company stock worth $5,608,936. Insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

NYSE NOW traded up $1.93 during midday trading on Thursday, hitting $940.58. The company had a trading volume of 155,160 shares, compared to its average volume of 1,277,451. The company has a market capitalization of $192.82 billion, a PE ratio of 100.45, a P/E/G ratio of 5.55 and a beta of 0.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $855.54 and a 200-day moving average price of $783.92. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $945.46.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the firm earned $0.77 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, analysts anticipate that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

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.