Sumitomo Mitsui Trust Group Inc. Lowers Holdings in ServiceNow, Inc. (NYSE:NOW)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 484,839 shares of the information technology services provider's stock after selling 28,516 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of ServiceNow worth $386,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Onefund LLC lifted its stake in ServiceNow by 2.0% in the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after acquiring an additional 11 shares in the last quarter. Cassady Schiller Wealth Management LLC lifted its stake in ServiceNow by 44.0% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after acquiring an additional 11 shares in the last quarter. Plancorp LLC lifted its stake in ServiceNow by 4.1% in the 4th quarter. Plancorp LLC now owns 308 shares of the information technology services provider's stock worth $327,000 after acquiring an additional 12 shares in the last quarter. Kesler Norman & Wride LLC lifted its stake in ServiceNow by 1.2% in the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock worth $1,157,000 after acquiring an additional 13 shares in the last quarter. Finally, Sepio Capital LP lifted its stake in ServiceNow by 3.8% in the 4th quarter. Sepio Capital LP now owns 359 shares of the information technology services provider's stock worth $381,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Up 1.2%

NYSE NOW opened at $1,023.56 on Friday. The stock has a fifty day moving average of $985.61 and a 200-day moving average of $967.23. The stock has a market capitalization of $211.86 billion, a P/E ratio of 139.07, a price-to-earnings-growth ratio of 4.65 and a beta of 0.95. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. 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 (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The company had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period last year, the firm earned $3.41 EPS. The business's revenue for the quarter was up 18.6% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. FBN Securities raised ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Barclays set a $1,085.00 price objective on ServiceNow in a research note on Wednesday, May 7th. Citigroup upped their target price on ServiceNow from $1,128.00 to $1,160.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Piper Sandler dropped their target price 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. Finally, Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and increased their price objective for the company from $950.00 to $1,200.00 in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,065.32.

Insider Buying and Selling

In other ServiceNow news, Director Anita M. Sands sold 248 shares of ServiceNow stock in a transaction dated 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 transaction, the director now directly owns 10,643 shares in the company, valued at approximately $10,740,277.02. The trade was a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 62 shares of ServiceNow stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $63,426.00. Following the transaction, the general counsel now owns 4,332 shares in the company, valued at approximately $4,431,636. This represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock valued at $6,611,245 over the last three months. Company insiders own 0.38% of the company's stock.

ServiceNow Company 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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