ServiceNow, Inc. (NYSE:NOW) Shares Sold by Robocap Asset Management Ltd

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

Several other large investors have also added to or reduced their stakes in NOW. Cassady Schiller Wealth Management LLC lifted its holdings in shares of ServiceNow by 44.0% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after buying an additional 11 shares in the last quarter. Plancorp LLC increased its position in ServiceNow by 4.1% during the fourth quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock valued at $327,000 after acquiring an additional 12 shares during the last quarter. Capital Investment Advisory Services LLC increased its position in ServiceNow by 2.1% during the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock valued at $459,000 after acquiring an additional 12 shares during the last quarter. Kesler Norman & Wride LLC increased its position in ServiceNow by 1.2% during the fourth quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock valued at $1,157,000 after acquiring an additional 13 shares during the last quarter. Finally, Sepio Capital LP boosted its stake in shares of ServiceNow by 3.8% during the fourth quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock valued at $381,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NOW. Oppenheimer reissued an "outperform" rating and set a $1,100.00 target price (up from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. UBS Group reissued a "buy" rating and set a $1,025.00 price target (up from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Mizuho upped their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,048.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Finally, Guggenheim reiterated a "sell" rating and issued a $724.00 price target on shares of ServiceNow in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,068.23.

ServiceNow Price Performance

NOW stock traded down $7.81 during midday trading on Wednesday, reaching $1,015.17. The stock had a trading volume of 1,146,714 shares, compared to its average volume of 1,478,282. The company's fifty day simple moving average is $1,007.49 and its 200 day simple moving average is $962.22. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The company has a market cap of $210.12 billion, a price-to-earnings ratio of 137.93, a price-to-earnings-growth ratio of 4.70 and a beta of 0.94. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 17.34% and a net margin of 13.41%. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.41 EPS. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, Director Deborah Black sold 598 shares of the business's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $940.23, for a total value of $562,257.54. Following the sale, the director directly owned 428 shares in the company, valued at approximately $402,418.44. The trade was a 58.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anita M. Sands sold 428 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the completion of the sale, the director owned 10,891 shares in the company, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,955 shares of company stock worth $6,862,195. Corporate insiders own 0.38% of the company's stock.

About ServiceNow

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.