Lbp Am Sa Cuts Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• Lbp Am Sa reduced its stake in ServiceNow, Inc. by 26.7% in Q2, holding 39,772 shares worth approximately $40.89 million.
• ServiceNow reported earnings of $4.09 per share for the last quarter, surpassing analysts' expectations by $0.52, with a revenue increase of 22.4% year-over-year.
• As of recent evaluations, ServiceNow holds a consensus rating of “Moderate Buy”, with analysts adjusting price targets between $1,100 and $1,250.

Lbp Am Sa trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 26.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,772 shares of the information technology services provider's stock after selling 14,515 shares during the quarter. Lbp Am Sa's holdings in ServiceNow were worth $40,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Haverford Trust Co increased its position in shares of ServiceNow by 0.9% during the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock valued at $936,000 after buying an additional 10 shares during the period. Ascent Group LLC increased its position in shares of ServiceNow by 0.5% during the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock valued at $1,628,000 after buying an additional 10 shares during the period. Edgemoor Investment Advisors Inc. increased its position in shares of ServiceNow by 2.5% during the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after buying an additional 11 shares during the period. Integrated Investment Consultants LLC increased its position in shares of ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after buying an additional 11 shares during the period. Finally, one8zero8 LLC increased its position in shares of ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock valued at $283,000 after buying an additional 11 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

NOW opened at $920.51 on Wednesday. The stock has a fifty day simple moving average of $918.47 and a two-hundred day simple moving average of $928.42. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $191.47 billion, a price-to-earnings ratio of 115.93, a price-to-earnings-growth ratio of 4.24 and a beta of 0.91. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the company earned $3.13 earnings per share. The firm's quarterly revenue was up 22.4% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 1,097 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the transaction, the director directly owned 9,307 shares of the company's stock, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of ServiceNow stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total value of $1,501,473.48. Following the transaction, the general counsel directly owned 4,332 shares in the company, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,976 shares of company stock valued at $17,049,775. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NOW. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. Bank of America raised their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wall Street Zen downgraded shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Morgan Stanley raised shares of ServiceNow from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Finally, Raymond James Financial raised their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,122.20.

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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