China Universal Asset Management Co. Ltd. Sells 2,505 Shares of ServiceNow, Inc. (NYSE:NOW)

China Universal Asset Management Co. Ltd. lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 19.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,355 shares of the information technology services provider's stock after selling 2,505 shares during the quarter. ServiceNow comprises approximately 0.8% of China Universal Asset Management Co. Ltd.'s investment portfolio, making the stock its 25th biggest position. China Universal Asset Management Co. Ltd.'s holdings in ServiceNow were worth $8,244,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Alpha Cubed Investments LLC grew its position in ServiceNow by 54.1% during the first quarter. Alpha Cubed Investments LLC now owns 581 shares of the information technology services provider's stock worth $463,000 after buying an additional 204 shares in the last quarter. Pekin Hardy Strauss Inc. bought a new stake in ServiceNow during the first quarter worth $296,000. Crossmark Global Holdings Inc. lifted its stake in ServiceNow by 14.2% during the first quarter. Crossmark Global Holdings Inc. now owns 11,227 shares of the information technology services provider's stock worth $8,938,000 after purchasing an additional 1,394 shares during the last quarter. Gilliland Jeter Wealth Management LLC lifted its stake in ServiceNow by 3.6% during the first quarter. Gilliland Jeter Wealth Management LLC now owns 867 shares of the information technology services provider's stock worth $690,000 after purchasing an additional 30 shares during the last quarter. Finally, Washington Trust Bank lifted its stake in ServiceNow by 1.6% during the first quarter. Washington Trust Bank now owns 24,098 shares of the information technology services provider's stock worth $19,185,000 after purchasing an additional 386 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Activity at ServiceNow

In related news, Director Anita M. Sands sold 428 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This represents a 3.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 770 shares of the business's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $931.62, for a total value of $717,347.40. Following the sale, the director owned 3,205 shares of the company's stock, valued at approximately $2,985,842.10. This represents a 19.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,955 shares of company stock worth $6,862,195. 0.38% of the stock is currently owned by insiders.

ServiceNow Trading Down 1.1%

ServiceNow stock traded down $11.65 during trading hours on Tuesday, reaching $1,023.36. 1,459,490 shares of the company's stock were exchanged, compared to its average volume of 1,483,406. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The firm's 50 day simple moving average is $1,005.88 and its 200 day simple moving average is $961.79. 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 $211.82 billion, a PE ratio of 139.04, a PEG ratio of 4.75 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. ServiceNow's revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.41 earnings per share. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. cut their target price on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. DA Davidson assumed coverage on ServiceNow in a research note on Wednesday, June 25th. They set a "buy" rating and a $1,150.00 target price for the company. Finally, Canaccord Genuity Group dropped their price target on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

ServiceNow Company Profile

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.