ServiceNow, Inc. (NYSE:NOW) Shares Sold by Twenty Acre Capital LP

Twenty Acre Capital LP cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 11.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,610 shares of the information technology services provider’s stock after selling 1,100 shares during the period. ServiceNow comprises about 6.8% of Twenty Acre Capital LP’s holdings, making the stock its 3rd largest position. Twenty Acre Capital LP’s holdings in ServiceNow were worth $7,701,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Versant Capital Management Inc grew its position in shares of ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 28 shares during the last quarter. Truvestments Capital LLC acquired a new position in ServiceNow in the third quarter valued at $30,000. Ridgewood Investments LLC purchased a new position in shares of ServiceNow during the second quarter worth about $32,000. DT Investment Partners LLC lifted its holdings in shares of ServiceNow by 77.3% in the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. Finally, American Capital Advisory LLC acquired a new stake in shares of ServiceNow in the 2nd quarter valued at about $39,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 2,229 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at approximately $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,329 shares of company stock worth $20,547,241. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,050.62 on Friday. The company has a market cap of $216.43 billion, a PE ratio of 163.39, a price-to-earnings-growth ratio of 5.98 and a beta of 0.98. The company has a 50-day simple moving average of $963.10 and a 200-day simple moving average of $846.02. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,072.84. 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 posted its quarterly earnings results 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. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company 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 business earned $1.21 EPS. The firm’s revenue was up 22.2% on a year-over-year basis. On average, equities analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on NOW. Wells Fargo & Company increased their price objective on ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Citigroup boosted their price target on ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $900.00 to $960.00 in a research note on Monday, October 21st. Canaccord Genuity Group upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets lifted their price objective 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $989.07.

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.