ServiceNow, Inc. (NYSE:NOW) Shares Sold by Ardevora Asset Management LLP

Ardevora Asset Management LLP trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 53.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,333 shares of the information technology services provider’s stock after selling 17,679 shares during the period. Ardevora Asset Management LLP’s holdings in ServiceNow were worth $10,833,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. RB Capital Management LLC increased its holdings in shares of ServiceNow by 25.2% during the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after acquiring an additional 192 shares during the last quarter. Zions Bancorporation N.A. lifted its position in shares of ServiceNow by 17.9% during the 1st quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock worth $487,000 after buying an additional 133 shares during the period. Brown Brothers Harriman & Co. lifted its position in shares of ServiceNow by 728.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock worth $1,070,000 after buying an additional 1,689 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of ServiceNow by 9.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock worth $195,000 after buying an additional 29 shares during the period. Finally, NewEdge Advisors LLC lifted its position in shares of ServiceNow by 0.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock worth $6,499,000 after buying an additional 86 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NOW traded down $17.45 during trading hours on Friday, reaching $713.91. The stock had a trading volume of 1,540,609 shares, compared to its average volume of 874,337. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32. The stock has a market capitalization of $146.62 billion, a PE ratio of 84.89, a PEG ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The company’s 50-day moving average is $764.19 and its two-hundred day moving average is $702.86.

ServiceNow (NYSE:NOWGet Free Report) last announced its quarterly earnings results 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. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the company earned $0.88 EPS. ServiceNow’s revenue was up 25.6% compared to the same quarter last year. Research analysts expect that ServiceNow, Inc. will post 6.16 EPS for the current year.

Insider Activity

In other news, insider Paul John Smith sold 1,795 shares of the stock in a transaction on 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 in the company, valued at approximately $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Paul John Smith sold 1,795 shares of the stock in a transaction on 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 sale, the insider now directly owns 994 shares in the company, valued at $776,373.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction 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 completion of the sale, 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. In the last ninety days, insiders sold 13,164 shares of company stock worth $9,940,303. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NOW shares. Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. The Goldman Sachs Group lifted their price objective on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Citigroup lifted their target price on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Tuesday, April 16th. Finally, Royal Bank of Canada lifted their target price on ServiceNow from $840.00 to $850.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three research 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, the company has an average rating of “Moderate Buy” and a consensus target price of $780.37.

Get Our Latest Analysis on NOW

ServiceNow Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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