ServiceNow Inc (NOW) Shares Sold by Trexquant Investment LP

Trexquant Investment LP cut its holdings in ServiceNow Inc (NYSE:NOW) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,057 shares of the information technology services provider’s stock after selling 2,225 shares during the period. Trexquant Investment LP’s holdings in ServiceNow were worth $2,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. Stratos Wealth Partners LTD. bought a new stake in ServiceNow in the 3rd quarter valued at about $101,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in ServiceNow in the 3rd quarter valued at about $117,000. Valeo Financial Advisors LLC increased its position in ServiceNow by 89.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 931 shares of the information technology services provider’s stock valued at $169,000 after buying an additional 440 shares in the last quarter. Chevy Chase Trust Holdings Inc. bought a new stake in ServiceNow in the 2nd quarter valued at about $204,000. Finally, Allianz Life Insurance Co. of North America bought a new stake in ServiceNow in the 2nd quarter valued at about $205,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Chirantan Jitendra Desai sold 2,031 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $199.84, for a total value of $405,875.04. Following the transaction, the insider now owns 7,174 shares in the company, valued at approximately $1,433,652.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frederic B. Luddy sold 32,500 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $196.45, for a total value of $6,384,625.00. Following the completion of the transaction, the director now owns 282,383 shares in the company, valued at approximately $55,474,140.35. The disclosure for this sale can be found here. Insiders have sold a total of 135,014 shares of company stock valued at $23,922,960 over the last three months. Corporate insiders own 1.60% of the company’s stock.

NOW has been the subject of a number of research analyst reports. Morgan Stanley decreased their target price on ServiceNow from $198.00 to $188.00 and set an “overweight” rating for the company in a research report on Tuesday, October 23rd. Barclays boosted their target price on ServiceNow from $198.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. Macquarie set a $210.00 target price on ServiceNow and gave the company a “buy” rating in a research report on Friday, October 12th. Jefferies Financial Group initiated coverage on ServiceNow in a research report on Monday, October 1st. They issued a “buy” rating and a $240.00 target price for the company. Finally, ValuEngine lowered ServiceNow from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $203.44.

Shares of NOW opened at $160.63 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market cap of $28.80 billion, a price-to-earnings ratio of -152.98, a P/E/G ratio of 29.50 and a beta of 1.25. ServiceNow Inc has a 52 week low of $112.84 and a 52 week high of $206.29.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 24th. The information technology services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.61. The firm had revenue of $673.10 million during the quarter, compared to analyst estimates of $659.41 million. ServiceNow had a negative return on equity of 2.93% and a negative net margin of 2.52%. Analysts expect that ServiceNow Inc will post 0.17 EPS for the current year.

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ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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