Two Sigma Advisers LP Trims Holdings in ServiceNow, Inc. (NYSE:NOW)

Two Sigma Advisers LP trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 80.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,100 shares of the information technology services provider's stock after selling 4,400 shares during the quarter. Two Sigma Advisers LP's holdings in ServiceNow were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Two Sigma Investments LP raised its position in shares of ServiceNow by 1.5% in the 4th quarter. Two Sigma Investments LP now owns 4,405 shares of the information technology services provider's stock valued at $4,670,000 after purchasing an additional 67 shares during the last quarter. Teza Capital Management LLC acquired a new position in ServiceNow during the 4th quarter valued at approximately $3,735,000. Stonebrook Private Inc. raised its holdings in shares of ServiceNow by 3.1% in the fourth quarter. Stonebrook Private Inc. now owns 531 shares of the information technology services provider's stock worth $563,000 after buying an additional 16 shares during the last quarter. Strategic Wealth Partners Ltd. purchased a new position in shares of ServiceNow in the fourth quarter worth $241,000. Finally, Strive Asset Management LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth $1,015,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NOW shares. Truist Financial upgraded ServiceNow from a "hold" rating to a "buy" rating and raised their target price for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st. Oppenheimer reissued an "outperform" rating and issued a $1,100.00 price objective (up from $970.00) on shares of ServiceNow in a report on Tuesday, May 6th. Royal Bank of Canada lifted their target price on ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Evercore ISI increased their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, JMP Securities reissued a "market outperform" rating and set a $1,300.00 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, two have issued a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Price Performance

NOW traded up $2.19 during midday trading on Wednesday, hitting $1,013.07. 181,562 shares of the company traded hands, compared to its average volume of 1,494,617. The business has a 50 day simple moving average of $906.32 and a two-hundred day simple moving average of $974.56. ServiceNow, Inc. has a 52-week low of $656.02 and a 52-week high of $1,198.09. The company has a market capitalization of $209.69 billion, a price-to-earnings ratio of 148.39, a PEG ratio of 4.51 and a beta of 0.97. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results 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. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm earned $3.41 EPS. The company's revenue for the quarter was up 18.6% on a year-over-year basis. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. This represents a 10.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 248 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the sale, the director now directly owns 10,643 shares of the company's stock, valued at $10,740,277.02. The trade was a 2.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock valued at $6,611,245 over the last quarter. 0.38% of the stock is currently owned by insiders.

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.