ServiceNow, Inc. (NYSE:NOW) Position Lowered by Seeyond

Seeyond decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,680 shares of the information technology services provider’s stock after selling 102 shares during the period. Seeyond’s holdings in ServiceNow were worth $2,571,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of NOW. Selective Wealth Management Inc. bought a new position in shares of ServiceNow during the second quarter worth about $30,000. Wolverine Asset Management LLC lifted its position in shares of ServiceNow by 1,160.0% during the first quarter. Wolverine Asset Management LLC now owns 63 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 58 shares during the last quarter. SRS Capital Advisors Inc. bought a new position in shares of ServiceNow during the second quarter worth about $33,000. Lloyd Advisory Services LLC. lifted its holdings in ServiceNow by 48.8% in the second quarter. Lloyd Advisory Services LLC. now owns 61 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 20 shares during the last quarter. Finally, Bedel Financial Consulting Inc. lifted its holdings in ServiceNow by 97.0% in the second quarter. Bedel Financial Consulting Inc. now owns 65 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 32 shares during the last quarter. 85.42% of the stock is currently owned by institutional investors and hedge funds.

In other ServiceNow news, Director Anita M. Sands sold 994 shares of the stock in a transaction on Thursday, July 29th. The shares were sold at an average price of $600.00, for a total value of $596,400.00. Following the completion of the sale, the director now owns 707 shares in the company, valued at $424,200. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Susan L. Bostrom sold 4,500 shares of the stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $461.40, for a total transaction of $2,076,300.00. Following the completion of the sale, the director now owns 1,780 shares of the company’s stock, valued at approximately $821,292. The disclosure for this sale can be found here. Insiders sold 31,861 shares of company stock valued at $18,888,544 in the last ninety days. Insiders own 0.35% of the company’s stock.

A number of equities analysts have issued reports on NOW shares. KeyCorp raised their target price on shares of ServiceNow from $660.00 to $718.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. BMO Capital Markets raised their price target on shares of ServiceNow from $575.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Summit Insights began coverage on shares of ServiceNow in a research report on Tuesday, September 28th. They issued a “buy” rating on the stock. Needham & Company LLC raised their price objective on shares of ServiceNow from $591.00 to $641.00 and gave the stock a “buy” rating in a research note on Thursday, July 29th. Finally, DZ Bank began coverage on shares of ServiceNow in a research note on Wednesday, September 22nd. They issued a “buy” rating and a $725.00 price objective for the company. Two analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Buy” and a consensus price target of $653.97.

Shares of NOW traded up $11.75 on Thursday, reaching $651.16. 10,022 shares of the company’s stock were exchanged, compared to its average volume of 1,367,600. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $128.99 billion, a P/E ratio of 773.82, a price-to-earnings-growth ratio of 17.05 and a beta of 0.92. The business has a 50 day moving average price of $628.06 and a two-hundred day moving average price of $559.63. ServiceNow, Inc. has a 12 month low of $448.27 and a 12 month high of $681.10.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 28th. The information technology services provider reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $1.26. ServiceNow had a net margin of 3.30% and a return on equity of 9.10%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.36 billion. Equities research analysts predict that ServiceNow, Inc. will post 1.35 EPS for the current year.

ServiceNow Company Profile

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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