Bailard Inc. Has $11.37 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Bailard Inc. cut its stake in ServiceNow, Inc. (NYSE:NOW) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,095 shares of the information technology services provider’s stock after selling 2,195 shares during the quarter. Bailard Inc.’s holdings in ServiceNow were worth $11,371,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in ServiceNow by 69,354.6% during the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after acquiring an additional 820,465 shares during the period. FMR LLC lifted its stake in shares of ServiceNow by 17.3% in the third 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 during the period. Jennison Associates LLC lifted its stake in shares of ServiceNow by 23.0% in the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock valued at $1,379,217,000 after buying an additional 461,614 shares during the period. Cerity Partners LLC lifted its stake in shares of ServiceNow by 1,073.7% in the fourth quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock valued at $287,020,000 after buying an additional 371,648 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of ServiceNow in the third quarter valued at about $135,075,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $5.44 during trading on Wednesday, hitting $746.39. 1,702,385 shares of the stock were exchanged, compared to its average volume of 1,186,092. The stock has a market capitalization of $153.29 billion, a price-to-earnings ratio of 88.75, a price-to-earnings-growth ratio of 4.56 and a beta of 0.97. The company has a fifty day moving average price of $761.32 and a 200-day moving average price of $706.74. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32. 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 (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the business earned $0.88 EPS. ServiceNow’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, equities analysts predict that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on NOW. Guggenheim reiterated a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. BMO Capital Markets increased their target price on shares of ServiceNow from $630.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Mizuho raised their price target on shares of ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Barclays raised their price target on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company raised their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $780.37.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the transaction, the insider now owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,164 shares of company stock worth $9,940,303. Insiders own 0.25% 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.