Livforsakringsbolaget Skandia Omsesidigt Sells 600 Shares of ServiceNow, Inc. (NYSE:NOW)

Livforsakringsbolaget Skandia Omsesidigt reduced its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 28.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,490 shares of the information technology services provider's stock after selling 600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in ServiceNow were worth $1,186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOW. Janus Henderson Group PLC lifted its holdings in shares of ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock valued at $874,258,000 after acquiring an additional 12,533 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of ServiceNow during the fourth quarter worth $48,802,000. FMR LLC boosted its stake in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after purchasing an additional 272,506 shares during the period. Duncker Streett & Co. Inc. increased its stake in ServiceNow by 4.8% during the 4th quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider's stock worth $6,759,000 after buying an additional 290 shares during the period. Finally, Nicholas Investment Partners LP lifted its holdings in ServiceNow by 223.5% in the 4th quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock worth $2,974,000 after buying an additional 1,938 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on NOW. Citigroup boosted their price target on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Mizuho dropped their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a research note on Tuesday, March 11th. Canaccord Genuity Group reduced their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Redburn Atlantic began coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They issued a "buy" rating for the company. Finally, Erste Group Bank upgraded ServiceNow from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $1,062.50.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. This trade represents a 10.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the completion of the transaction, the chief executive officer now directly owns 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,716 shares of company stock valued at $6,611,245 in the last three months. Insiders own 0.38% of the company's stock.

ServiceNow Stock Down 1.6%

Shares of NOW traded down $16.92 during trading hours on Tuesday, reaching $1,009.94. The company's stock had a trading volume of 1,189,169 shares, compared to its average volume of 1,481,305. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $209.04 billion, a price-to-earnings ratio of 147.87, a P/E/G ratio of 4.51 and a beta of 0.95. The company has a 50 day moving average of $923.49 and a two-hundred day moving average of $973.88. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the company posted $3.41 EPS. ServiceNow's revenue was up 18.6% on a year-over-year basis. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.