Venture Visionary Partners LLC Trims Stock Holdings in ServiceNow, Inc. $NOW

Key Points

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Venture Visionary Partners LLC decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 10.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,591 shares of the information technology services provider's stock after selling 771 shares during the period. Venture Visionary Partners LLC's holdings in ServiceNow were worth $5,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Carmignac Gestion raised its stake in ServiceNow by 65.0% in the 1st quarter. Carmignac Gestion now owns 103,701 shares of the information technology services provider's stock worth $82,562,000 after acquiring an additional 40,840 shares during the last quarter. ZEGA Investments LLC raised its stake in ServiceNow by 157.0% in the 1st quarter. ZEGA Investments LLC now owns 622 shares of the information technology services provider's stock worth $495,000 after acquiring an additional 380 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in ServiceNow by 7.8% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 24,580 shares of the information technology services provider's stock worth $19,530,000 after acquiring an additional 1,770 shares during the last quarter. Groupama Asset Managment raised its stake in ServiceNow by 42.5% in the 1st quarter. Groupama Asset Managment now owns 15,596 shares of the information technology services provider's stock worth $12,442,000 after acquiring an additional 4,654 shares during the last quarter. Finally, Two Star Manager LLC raised its stake in ServiceNow by 15.0% in the 1st quarter. Two Star Manager LLC now owns 19,596 shares of the information technology services provider's stock worth $15,601,000 after acquiring an additional 2,560 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Trading Up 2.7%

Shares of ServiceNow stock opened at $890.73 on Tuesday. The firm has a market capitalization of $185.27 billion, a PE ratio of 112.18, a P/E/G ratio of 3.91 and a beta of 0.93. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm's 50-day moving average price is $964.30 and its 200 day moving average price is $932.15. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. ServiceNow's quarterly revenue was up 22.4% compared to the same quarter last year. During the same period last year, the company posted $3.13 EPS. On average, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $860.00, for a total value of $258,000.00. Following the transaction, the director directly owned 9,886 shares of the company's stock, valued at $8,501,960. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the transaction, the insider directly owned 3,000 shares in the company, valued at $3,060,000. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,038 shares of company stock worth $5,971,973. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NOW has been the subject of a number of recent research reports. UBS Group reduced their price objective on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Evercore ISI lifted their price objective on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Robert W. Baird lifted their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Scotiabank set a $1,100.00 price objective on ServiceNow and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, Canaccord Genuity Group reduced their price objective on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

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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