ARP Americas LP Sells 2,900 Shares of ServiceNow Inc (NOW)

ARP Americas LP trimmed its holdings in shares of ServiceNow Inc (NYSE:NOW) by 61.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,800 shares of the information technology services provider’s stock after selling 2,900 shares during the quarter. ARP Americas LP’s holdings in ServiceNow were worth $352,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its position in ServiceNow by 44.3% during the second quarter. Janus Henderson Group PLC now owns 1,652,619 shares of the information technology services provider’s stock worth $285,058,000 after acquiring an additional 507,435 shares during the period. Northern Trust Corp increased its position in ServiceNow by 1.0% during the second quarter. Northern Trust Corp now owns 990,521 shares of the information technology services provider’s stock worth $170,835,000 after acquiring an additional 9,950 shares during the period. Bessemer Group Inc. increased its position in ServiceNow by 49.5% during the second quarter. Bessemer Group Inc. now owns 827,954 shares of the information technology services provider’s stock worth $142,796,000 after acquiring an additional 274,242 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in ServiceNow by 10.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 626,588 shares of the information technology services provider’s stock worth $108,068,000 after acquiring an additional 58,968 shares during the period. Finally, Advisors Asset Management Inc. increased its position in ServiceNow by 3,565.4% during the second quarter. Advisors Asset Management Inc. now owns 599,661 shares of the information technology services provider’s stock worth $3,051,000 after acquiring an additional 583,301 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $205.00 price target on shares of ServiceNow in a research report on Thursday, July 26th. JPMorgan Chase & Co. increased their price objective on shares of ServiceNow from $163.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, July 26th. Stifel Nicolaus increased their price objective on shares of ServiceNow from $165.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, July 26th. KeyCorp increased their price objective on shares of ServiceNow from $194.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, July 26th. Finally, Credit Suisse Group increased their price objective on shares of ServiceNow from $180.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $203.44.



In related news, Director Frederic B. Luddy sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $182.51, for a total value of $5,931,575.00. Following the completion of the transaction, the director now owns 282,383 shares in the company, valued at approximately $51,537,721.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ronald E. F. Codd sold 39,506 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $185.88, for a total transaction of $7,343,375.28. Following the completion of the transaction, the director now owns 53,428 shares of the company’s stock, valued at approximately $9,931,196.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 190,350 shares of company stock worth $35,102,979. 1.60% of the stock is currently owned by corporate insiders.

NOW opened at $166.76 on Monday. ServiceNow Inc has a 1-year low of $112.84 and a 1-year high of $206.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $29.67 billion, a PE ratio of -158.82, a P/E/G ratio of 39.27 and a beta of 1.23.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 24th. The information technology services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.61. ServiceNow had a negative net margin of 2.52% and a negative return on equity of 3.15%. The company had revenue of $673.10 million for the quarter, compared to the consensus estimate of $659.41 million. On average, analysts expect that ServiceNow Inc will post 0.15 earnings per share for the current year.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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