Lakehouse Capital Pty Ltd Sells 1,644 Shares of ServiceNow, Inc. (NYSE:NOW)

Lakehouse Capital Pty Ltd lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 8.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 18,918 shares of the information technology services provider’s stock after selling 1,644 shares during the quarter. ServiceNow accounts for approximately 10.7% of Lakehouse Capital Pty Ltd’s investment portfolio, making the stock its 3rd largest holding. Lakehouse Capital Pty Ltd’s holdings in ServiceNow were worth $13,365,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after buying an additional 122,577 shares in the last quarter. State Street Corp boosted its stake in ServiceNow by 2.0% in the 2nd quarter. State Street Corp now owns 8,240,319 shares of the information technology services provider’s stock valued at $4,630,812,000 after buying an additional 158,165 shares in the last quarter. Morgan Stanley boosted its stake in ServiceNow by 4.3% in the 4th quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock valued at $2,745,763,000 after buying an additional 288,522 shares in the last quarter. FMR LLC boosted its stake in ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after buying an additional 595,697 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in ServiceNow by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 3,589,941 shares of the information technology services provider’s stock valued at $1,663,879,000 after buying an additional 79,037 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Down 2.6 %

NYSE NOW opened at $758.60 on Thursday. The stock has a 50-day simple moving average of $768.99 and a 200 day simple moving average of $679.61. The company has a market capitalization of $155.51 billion, a PE ratio of 90.20, a P/E/G ratio of 4.96 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow, Inc. has a 12 month low of $427.01 and a 12 month high of $815.32.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. Research analysts forecast that ServiceNow, Inc. will post 6.11 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. UBS Group boosted their price target on ServiceNow from $865.00 to $885.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Citigroup boosted their price objective on ServiceNow from $862.00 to $896.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. BMO Capital Markets boosted their price objective on ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. TheStreet raised ServiceNow from a “c+” rating to a “b-” rating in a research note on Friday, December 8th. Finally, Oppenheimer boosted their price objective on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Two research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $762.96.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other ServiceNow news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now directly owns 994 shares of the company’s stock, valued at $776,373.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,164 shares of company stock valued at $9,940,303. Company insiders own 0.24% of the company’s stock.

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.