Seeyond Has $794,000 Stock Holdings in ServiceNow Inc (NYSE:NOW)

Seeyond cut its stake in ServiceNow Inc (NYSE:NOW) by 22.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,892 shares of the information technology services provider’s stock after selling 854 shares during the quarter. Seeyond’s holdings in ServiceNow were worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOW. KBC Group NV increased its position in ServiceNow by 275.3% during the second quarter. KBC Group NV now owns 87,151 shares of the information technology services provider’s stock worth $23,929,000 after buying an additional 63,929 shares during the last quarter. Institute for Wealth Management LLC. increased its position in ServiceNow by 10.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,049 shares of the information technology services provider’s stock worth $837,000 after buying an additional 292 shares during the last quarter. Menta Capital LLC acquired a new position in ServiceNow during the second quarter worth $223,000. Marshall Wace LLP acquired a new position in ServiceNow during the first quarter worth $724,000. Finally, Arcadia Investment Management Corp MI increased its position in ServiceNow by 219.5% during the second quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the information technology services provider’s stock worth $741,000 after buying an additional 1,855 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors and hedge funds.

NOW stock traded down $4.06 during mid-day trading on Friday, reaching $252.75. 26,101 shares of the stock traded hands, compared to its average volume of 1,611,566. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.54. ServiceNow Inc has a 52 week low of $147.63 and a 52 week high of $303.17. The business has a 50-day moving average of $265.88 and a two-hundred day moving average of $263.23. The firm has a market capitalization of $47.47 billion, a PE ratio of 1,262.15, a P/E/G ratio of 21.28 and a beta of 1.34.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. ServiceNow had a net margin of 0.09% and a return on equity of 4.29%. The business had revenue of $833.90 million during the quarter, compared to analysts’ expectations of $831.50 million. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue was up 32.1% on a year-over-year basis. On average, equities research analysts anticipate that ServiceNow Inc will post 0.43 EPS for the current fiscal year.

In related news, Director Frederic B. Luddy sold 1,015 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $254.79, for a total value of $258,611.85. Following the completion of the sale, the director now owns 1,213 shares in the company, valued at $309,060.27. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Fay Sien Goon sold 408 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $258.36, for a total transaction of $105,410.88. Following the completion of the sale, the insider now owns 41,777 shares of the company’s stock, valued at approximately $10,793,505.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,449 shares of company stock valued at $25,342,219. 1.00% of the stock is owned by corporate insiders.

Several equities analysts have commented on NOW shares. Bank of America reissued a “buy” rating and set a $330.00 target price (up from $300.00) on shares of ServiceNow in a research report on Thursday, July 25th. Credit Suisse Group increased their target price on shares of ServiceNow from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Needham & Company LLC increased their target price on shares of ServiceNow from $276.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Robert W. Baird increased their target price on shares of ServiceNow from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, BTIG Research reissued a “buy” rating and set a $320.00 target price on shares of ServiceNow in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $292.34.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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