E. Ohman J or Asset Management AB Has $8.93 Million Holdings in ServiceNow, Inc. $NOW

E. Ohman J or Asset Management AB reduced its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,689 shares of the information technology services provider's stock after selling 307 shares during the quarter. E. Ohman J or Asset Management AB's holdings in ServiceNow were worth $8,933,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Haverford Trust Co boosted its holdings in shares of ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock worth $936,000 after acquiring an additional 10 shares in the last quarter. Ascent Group LLC boosted its holdings in shares of ServiceNow by 0.5% in the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock worth $1,628,000 after acquiring an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. boosted its holdings in shares of ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $366,000 after acquiring an additional 11 shares in the last quarter. Integrated Investment Consultants LLC boosted its holdings in shares of ServiceNow by 2.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock worth $358,000 after acquiring an additional 11 shares in the last quarter. Finally, one8zero8 LLC boosted its holdings in shares of ServiceNow by 3.2% in the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock worth $283,000 after acquiring an additional 11 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 5,825 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total value of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares of the company's stock, valued at approximately $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,976 shares of company stock worth $17,049,775 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $930.04 on Monday. The firm has a fifty day moving average of $927.34 and a two-hundred day moving average of $922.34. The stock has a market capitalization of $193.45 billion, a price-to-earnings ratio of 117.13, a PEG ratio of 4.18 and a beta of 0.91. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup upped their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. BMO Capital Markets upped their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. DA Davidson upped their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. UBS Group reduced their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,200.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

ServiceNow 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.

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