Robocap Asset Management Ltd Decreases Position in ServiceNow, Inc. (NYSE:NOW)

Robocap Asset Management Ltd trimmed its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,067 shares of the information technology services provider's stock after selling 337 shares during the period. ServiceNow accounts for about 6.0% of Robocap Asset Management Ltd's investment portfolio, making the stock its 5th biggest holding. Robocap Asset Management Ltd's holdings in ServiceNow were worth $8,015,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NOW. Cassady Schiller Wealth Management LLC grew its holdings in shares of ServiceNow by 44.0% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock valued at $38,000 after acquiring an additional 11 shares in the last quarter. Plancorp LLC boosted its holdings in ServiceNow by 4.1% in the fourth quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock worth $327,000 after purchasing an additional 12 shares in the last quarter. Capital Investment Advisory Services LLC boosted its holdings in ServiceNow by 2.1% in the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock worth $459,000 after purchasing an additional 12 shares in the last quarter. Kesler Norman & Wride LLC boosted its holdings in ServiceNow by 1.2% in the fourth quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock worth $1,157,000 after purchasing an additional 13 shares in the last quarter. Finally, Sepio Capital LP boosted its holdings in ServiceNow by 3.8% in the fourth quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock worth $381,000 after purchasing an additional 13 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the transaction, the chief executive officer owned 6,614 shares of the company's stock, valued at $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anita M. Sands sold 428 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 10,891 shares of the company's stock, valued at $11,039,226.51. This trade represents a 3.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,955 shares of company stock valued at $6,862,195. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

Shares of NOW traded down $30.97 during trading hours on Friday, reaching $937.12. 2,144,933 shares of the company traded hands, compared to its average volume of 1,483,800. The stock's fifty day moving average is $1,008.08 and its 200 day moving average is $960.59. The stock has a market cap of $193.97 billion, a P/E ratio of 127.33, a price-to-earnings-growth ratio of 4.45 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business posted $3.41 earnings per share. The company's quarterly revenue was up 18.6% compared to the same quarter last year. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NOW shares. Bank of America decreased their price objective on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. TD Securities reiterated a "buy" rating and issued a $1,100.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Royal Bank Of Canada upped their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Mizuho upped their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Finally, Truist Financial raised shares of ServiceNow from a "hold" rating to a "buy" rating and boosted their target price for the stock from $950.00 to $1,200.00 in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,068.23.

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.