Versant Capital Management Inc Has $171,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Versant Capital Management Inc lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 172.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 161 shares of the information technology services provider’s stock after purchasing an additional 102 shares during the quarter. Versant Capital Management Inc’s holdings in ServiceNow were worth $171,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in shares of ServiceNow during the third quarter worth approximately $30,000. DT Investment Partners LLC raised its position 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 during the last quarter. Semmax Financial Advisors Inc. acquired a new position in ServiceNow during the 2nd quarter worth $39,000. Oakworth Capital Inc. boosted its position in ServiceNow by 46.7% in the 3rd 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. Finally, Dunhill Financial LLC increased its stake in shares of ServiceNow by 70.0% in the 3rd quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock valued at $46,000 after buying an additional 21 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Activity

In related news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,629 shares of company stock worth $20,861,626 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 1.8 %

NYSE:NOW opened at $1,073.77 on Friday. The company has a market cap of $221.20 billion, a P/E ratio of 166.99, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The business has a 50 day moving average price of $1,051.07 and a two-hundred day moving average price of $908.48. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate 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 prior year, the company posted $1.21 earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. As a group, analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on NOW. Barclays raised their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Sanford C. Bernstein lifted their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. BMO Capital Markets increased their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. JMP Securities raised their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. Finally, KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,053.89.

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.