American Century Companies Inc. Sells 35,573 Shares of ServiceNow, Inc. (NYSE:NOW)

Key Points

• American Century Companies Inc. reduced its stake in ServiceNow, Inc. by 15.9%, selling 35,573 shares to now own 188,086 shares valued at approximately $149.7 million.
• Multiple hedge funds have increased their positions in ServiceNow, with Vanguard Group acquiring 297,734 additional shares, now holding a total of 19.5 million shares worth over $15.5 billion.
• ServiceNow's earnings report revealed a significant 22.4% increase in revenue year-over-year, with an EPS of $4.09, exceeding analysts' expectations of $3.57.

American Century Companies Inc. decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,086 shares of the information technology services provider's stock after selling 35,573 shares during the quarter. American Century Companies Inc. owned 0.09% of ServiceNow worth $149,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in ServiceNow by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock worth $15,522,335,000 after buying an additional 297,734 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after buying an additional 509,467 shares during the last quarter. GAMMA Investing LLC lifted its position in ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after buying an additional 2,686,291 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in ServiceNow by 3.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider's stock worth $2,814,433,000 after buying an additional 87,876 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in ServiceNow by 4.9% in the 4th quarter. Nuveen Asset Management LLC now owns 2,343,840 shares of the information technology services provider's stock worth $2,484,752,000 after buying an additional 109,293 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Insiders Place Their Bets

In other ServiceNow news, CFO Gina Mastantuono sold 84 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $860.57, for a total value of $72,287.88. Following the sale, the chief financial officer directly owned 11,572 shares of the company's stock, valued at approximately $9,958,516.04. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence Jackson sold 757 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $990.50, for a total value of $749,808.50. Following the completion of the sale, the director directly owned 588 shares in the company, valued at $582,414. This trade represents a 56.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,738 shares of company stock valued at $5,713,973. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NOW shares. Jefferies Financial Group boosted their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. UBS Group decreased their price target on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Raymond James Financial lifted their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. TD Securities reaffirmed a "buy" rating and issued a $1,100.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

ServiceNow Trading Up 1.9%

NYSE NOW opened at $866.89 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm has a market capitalization of $180.31 billion, a PE ratio of 109.18, a P/E/G ratio of 3.83 and a beta of 0.93. The stock's 50 day moving average is $967.03 and its 200 day moving average is $935.06.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the company posted $3.13 earnings per share. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. Research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

About ServiceNow

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.

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