ServiceNow, Inc. (NYSE:NOW) Shares Sold by Versor Investments LP

Versor Investments LP trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 78.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300 shares of the information technology services provider’s stock after selling 1,075 shares during the quarter. Versor Investments LP’s holdings in ServiceNow were worth $268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC grew its stake 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 in the last quarter. Swedbank AB purchased a new position in shares of ServiceNow in the first quarter valued at approximately $897,908,000. AustralianSuper Pty Ltd acquired a new position in shares of ServiceNow in the second quarter valued at approximately $218,786,000. Canada Pension Plan Investment Board grew its holdings in shares of ServiceNow by 59.4% in the second quarter. Canada Pension Plan Investment Board now owns 635,919 shares of the information technology services provider’s stock valued at $500,258,000 after purchasing an additional 237,086 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of ServiceNow by 110.2% in the third quarter. abrdn plc now owns 442,382 shares of the information technology services provider’s stock valued at $392,477,000 after purchasing an additional 231,900 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. This trade represents a 2.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. This trade represents a 33.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,325 shares of company stock valued at $5,024,928 over the last three months. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NOW shares. Stifel Nicolaus boosted their price target on shares of ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JMP Securities lifted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on shares of ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC boosted their price target on shares of ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $974.04.

ServiceNow Price Performance

Shares of NOW opened at $1,011.39 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,061.66. The firm has a 50-day simple moving average of $932.47 and a 200-day simple moving average of $823.24. The company has a market capitalization of $208.35 billion, a price-to-earnings ratio of 157.29, a price-to-earnings-growth ratio of 6.00 and a beta of 0.98.

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 analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during 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 firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period last year, the firm earned $1.21 EPS. On average, equities research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.