Robocap Asset Management Ltd Lowers Stake in ServiceNow, Inc. (NYSE:NOW)

Robocap Asset Management Ltd trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,067 shares of the information technology services provider's stock after selling 337 shares during the period. ServiceNow makes up approximately 6.0% of Robocap Asset Management Ltd's holdings, 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 quarter.

Several other hedge funds have also modified their holdings of NOW. Janus Henderson Group PLC grew its position in ServiceNow by 1.5% in 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 during the last quarter. FMR LLC grew its position in ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after acquiring an additional 272,506 shares during the last quarter. Nicholas Investment Partners LP grew its position 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 valued at $2,974,000 after acquiring an additional 1,938 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ServiceNow by 18.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 196,783 shares of the information technology services provider's stock valued at $209,103,000 after acquiring an additional 31,125 shares during the last quarter. Finally, Norges Bank bought a new position in ServiceNow in the 4th quarter valued at $2,603,360,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow 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 sale, the chief executive officer owned 6,614 shares of the company's stock, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider directly owned 3,000 shares in the company, valued at approximately $3,060,000. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,955 shares of company stock valued at $6,862,195. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Down 4.5%

Shares of NYSE NOW traded down $45.42 during midday trading on Thursday, reaching $968.29. The company's stock had a trading volume of 1,982,068 shares, compared to its average volume of 1,480,341. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The stock has a market capitalization of $200.42 billion, a price-to-earnings ratio of 131.56, a PEG ratio of 4.70 and a beta of 0.94. The stock has a 50 day simple moving average of $1,008.69 and a 200-day simple moving average of $962.58.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. ServiceNow's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.41 earnings per share. Equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NOW shares. Piper Sandler dropped their price target on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Raymond James Financial dropped their price target on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. DA Davidson started coverage on ServiceNow in a research report on Wednesday, June 25th. They set a "buy" rating and a $1,150.00 price target on the stock. Morgan Stanley reissued an "equal weight" rating on shares of ServiceNow in a research report on Tuesday. Finally, Needham & Company LLC reissued a "buy" rating and set a $1,050.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.