ServiceNow, Inc. (NYSE:NOW) Shares Sold by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 19.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,355 shares of the information technology services provider's stock after selling 2,505 shares during the quarter. ServiceNow accounts for approximately 0.8% of China Universal Asset Management Co. Ltd.'s holdings, making the stock its 25th largest position. China Universal Asset Management Co. Ltd.'s holdings in ServiceNow were worth $8,244,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after purchasing an additional 2,686,291 shares in the last quarter. Norges Bank purchased a new position in ServiceNow in the fourth quarter worth about $2,603,360,000. Proficio Capital Partners LLC grew its position in ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after acquiring an additional 666,383 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ServiceNow by 6.8% in the fourth 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 purchasing an additional 509,467 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in ServiceNow by 36.7% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock worth $1,940,464,000 after purchasing an additional 491,861 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on NOW shares. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Stifel Nicolaus lifted their price target on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Wells Fargo & Company lifted their price target on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. UBS Group reissued a "buy" rating and set a $1,025.00 price objective (up from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. Finally, Jefferies Financial Group lowered their price target on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.23.

ServiceNow Trading Down 4.5%

Shares of NYSE NOW traded down $45.42 during midday trading on Thursday, reaching $968.29. 2,002,404 shares of the stock were exchanged, compared to its average volume of 1,480,376. The company has a 50 day simple moving average of $1,008.69 and a 200 day simple moving average of $962.58. The stock has a market capitalization of $200.42 billion, a P/E ratio of 131.56, a PEG ratio of 4.70 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company posted $3.41 EPS. As a group, equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the transaction, the insider owned 3,000 shares of the company's stock, valued at approximately $3,060,000. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 428 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the completion of the transaction, the director owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,955 shares of company stock worth $6,862,195 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

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.