Penserra Capital Management LLC Has $1.95 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Penserra Capital Management LLC lessened its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 39.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,453 shares of the information technology services provider's stock after selling 1,609 shares during the period. Penserra Capital Management LLC's holdings in ServiceNow were worth $1,952,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of ServiceNow during the fourth quarter worth approximately $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow during the fourth quarter worth approximately $28,000. WASHINGTON TRUST Co increased its holdings in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after buying an additional 31 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow during the fourth quarter worth approximately $32,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Stock Down 1.0%

ServiceNow stock opened at $1,034.50 on Tuesday. The firm has a market capitalization of $214.12 billion, a PE ratio of 140.56, a P/E/G ratio of 4.80 and a beta of 0.94. The company's 50-day moving average is $1,005.88 and its 200-day moving average is $961.79. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. The company 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 for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.41 EPS. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective 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. Morgan Stanley raised their price objective on shares of ServiceNow from $950.00 to $1,040.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 2nd. Canaccord Genuity Group lowered their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Robert W. Baird raised their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $1,068.23.

Insider Activity at ServiceNow

In related news, Director Anita M. Sands sold 428 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the transaction, the director owned 10,891 shares in the company, valued at approximately $11,039,226.51. This represents a 3.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Chadwick sold 770 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the transaction, the director owned 3,205 shares in the company, valued at approximately $2,985,842.10. This trade represents a 19.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock worth $6,611,245 over the last ninety days. Company insiders own 0.38% of the company's stock.

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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