Harvest Fund Management Co. Ltd Has $3 Million Position in ServiceNow, Inc. (NYSE:NOW)

Harvest Fund Management Co. Ltd lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 48.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,354 shares of the information technology services provider’s stock after acquiring an additional 1,094 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in ServiceNow were worth $2,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NOW. Fisher Asset Management LLC grew its stake in ServiceNow by 3.5% during the 3rd quarter. Fisher Asset Management LLC now owns 1,662,968 shares of the information technology services provider’s stock valued at $1,487,343,000 after acquiring an additional 56,830 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of ServiceNow by 11.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,298 shares of the information technology services provider’s stock worth $1,449,178,000 after purchasing an additional 167,847 shares during the period. Bank of New York Mellon Corp grew its position in ServiceNow by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after purchasing an additional 34,855 shares in the last quarter. Swedbank AB increased its stake in ServiceNow by 10.3% in the 2nd quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after buying an additional 120,983 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in ServiceNow by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,236,337 shares of the information technology services provider’s stock worth $1,105,767,000 after buying an additional 31,702 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 10.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now directly owns 42,920 shares of the company’s stock, valued at $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,787 shares of company stock worth $17,841,028 over the last three months. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NOW. Piper Sandler boosted their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Wells Fargo & Company boosted their target price on ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Royal Bank of Canada upped their target price on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Needham & Company LLC increased their price objective on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $986.39.

ServiceNow Trading Up 1.3 %

Shares of NOW stock opened at $1,060.60 on Monday. The firm has a market capitalization of $218.48 billion, a P/E ratio of 164.95, a price-to-earnings-growth ratio of 6.09 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,064.59. The firm’s fifty day simple moving average is $948.53 and its 200 day simple moving average is $836.29. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 EPS. As a group, sell-side analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current 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.