ServiceNow, Inc. (NYSE:NOW) is Lakehouse Capital Pty Ltd’s 3rd Largest Position

Lakehouse Capital Pty Ltd decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,918 shares of the information technology services provider’s stock after selling 1,644 shares during the quarter. ServiceNow comprises about 10.7% of Lakehouse Capital Pty Ltd’s portfolio, making the stock its 3rd biggest holding. Lakehouse Capital Pty Ltd’s holdings in ServiceNow were worth $13,365,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. PFG Private Wealth Management LLC acquired a new stake in ServiceNow during the third quarter worth about $28,000. First Capital Advisors Group LLC. acquired a new stake in ServiceNow during the second quarter worth about $29,000. High Net Worth Advisory Group LLC acquired a new stake in ServiceNow during the first quarter worth about $29,000. Fortitude Family Office LLC acquired a new stake in ServiceNow during the fourth quarter worth about $41,000. Finally, Steward Financial Group LLC increased its position in ServiceNow by 125.0% during the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Paul John Smith sold 1,180 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the completion of the transaction, the insider now directly owns 1,392 shares in the company, valued at approximately $1,067,831.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders sold a total of 13,164 shares of company stock worth $9,940,303 in the last 90 days. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NOW. Citigroup lifted their price target on shares of ServiceNow from $862.00 to $896.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Robert W. Baird lifted their price target on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Barclays lifted their price target on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. JMP Securities lifted their price target on shares of ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a research report on Monday, January 22nd. Finally, Oppenheimer lifted their price target on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Two research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $762.96.

ServiceNow Stock Down 2.6 %

NOW opened at $758.60 on Thursday. The firm has a 50 day moving average price of $768.99 and a 200 day moving average price of $679.61. The company has a market cap of $155.51 billion, a PE ratio of 90.20, a price-to-earnings-growth ratio of 4.96 and a beta of 0.97. ServiceNow, Inc. has a 1 year low of $427.01 and a 1 year high of $815.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06.

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

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.