Matrix Trust Co Takes Position in ServiceNow, Inc. (NYSE:NOW)

Matrix Trust Co acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 150 shares of the information technology services provider’s stock, valued at approximately $159,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. World Investment Advisors LLC increased its stake in ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after buying an additional 1,183,739 shares during the period. Bank of Montreal Can increased its position in shares of ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after acquiring an additional 935,848 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after acquiring an additional 615,797 shares during the period. Finally, FMR LLC boosted its stake in ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $1,012.47 on Tuesday. The firm has a market cap of $208.57 billion, a P/E ratio of 157.46, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. The business’s 50 day moving average is $1,065.17 and its 200-day moving average is $925.81. 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, Inc. has a 1-year low of $637.99 and a 1-year high of $1,157.90.

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

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,173,173.83. The trade was a 2.13 % decrease in their position. 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. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NOW has been the topic of a number of research reports. Barclays boosted 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. UBS Group boosted their target price on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. The Goldman Sachs Group boosted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada raised their target price on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,071.39.

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.