ServiceNow Inc (NYSE:NOW) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP lowered its position in ServiceNow Inc (NYSE:NOW) by 13.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,602 shares of the information technology services provider’s stock after selling 50,200 shares during the period. Two Sigma Advisers LP owned approximately 0.17% of ServiceNow worth $128,648,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Evercore Wealth Management LLC lifted its position in shares of ServiceNow by 1.2% during the second quarter. Evercore Wealth Management LLC now owns 1,964 shares of the information technology services provider’s stock worth $796,000 after purchasing an additional 24 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in ServiceNow by 2.8% in the second quarter. Orion Portfolio Solutions LLC now owns 873 shares of the information technology services provider’s stock valued at $354,000 after purchasing an additional 24 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in ServiceNow by 43.9% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 82 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 25 shares in the last quarter. Fulton Breakefield Broenniman LLC increased its stake in ServiceNow by 2.2% in the second quarter. Fulton Breakefield Broenniman LLC now owns 1,172 shares of the information technology services provider’s stock valued at $475,000 after purchasing an additional 25 shares in the last quarter. Finally, Private Capital Group LLC increased its stake in ServiceNow by 12.0% in the second quarter. Private Capital Group LLC now owns 234 shares of the information technology services provider’s stock valued at $95,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

NYSE NOW traded down $17.95 during trading on Wednesday, hitting $456.01. 1,506,889 shares of the company’s stock traded hands, compared to its average volume of 2,083,538. The stock has a market capitalization of $87.46 billion, a price-to-earnings ratio of 123.92, a PEG ratio of 15.60 and a beta of 1.29. ServiceNow Inc has a 12-month low of $213.99 and a 12-month high of $501.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.17. The business has a 50 day moving average of $450.27 and a 200-day moving average of $376.66.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 29th. The information technology services provider reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $1.03. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. ServiceNow had a net margin of 18.42% and a return on equity of 11.09%. The company’s revenue was up 28.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. On average, analysts expect that ServiceNow Inc will post 0.99 EPS for the current year.

Several equities research analysts have commented on NOW shares. Bank of America upped their target price on shares of ServiceNow from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Piper Sandler increased their price objective on shares of ServiceNow from $360.00 to $430.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Raymond James increased their price objective on shares of ServiceNow from $385.00 to $490.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 30th. Stifel Nicolaus increased their price objective on shares of ServiceNow from $450.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Jefferies Financial Group increased their price objective on shares of ServiceNow from $465.00 to $515.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $433.85.

In other news, insider Chirantan Jitendra Desai sold 1,562 shares of the stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $425.00, for a total value of $663,850.00. Following the sale, the insider now directly owns 26,378 shares of the company’s stock, valued at $11,210,650. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederic B. Luddy sold 28,600 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $415.85, for a total transaction of $11,893,310.00. Following the completion of the sale, the director now directly owns 811 shares in the company, valued at $337,254.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,091 shares of company stock worth $43,357,894. Insiders own 0.72% of the company’s stock.

ServiceNow 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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