ServiceNow Inc (NOW) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its stake in shares of ServiceNow Inc (NYSE:NOW) by 28.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 260,425 shares of the information technology services provider’s stock after selling 105,561 shares during the period. First Trust Advisors LP’s holdings in ServiceNow were worth $50,947,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its position in shares of ServiceNow by 44.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,652,619 shares of the information technology services provider’s stock worth $285,058,000 after purchasing an additional 507,435 shares during the last quarter. Northern Trust Corp raised its position in shares of ServiceNow by 1.0% during the 2nd quarter. Northern Trust Corp now owns 990,521 shares of the information technology services provider’s stock worth $170,835,000 after purchasing an additional 9,950 shares during the last quarter. Bessemer Group Inc. raised its position in shares of ServiceNow by 49.5% during the 2nd quarter. Bessemer Group Inc. now owns 827,954 shares of the information technology services provider’s stock worth $142,796,000 after purchasing an additional 274,242 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of ServiceNow by 10.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 626,588 shares of the information technology services provider’s stock worth $108,068,000 after purchasing an additional 58,968 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of ServiceNow by 3,565.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 599,661 shares of the information technology services provider’s stock worth $3,051,000 after purchasing an additional 583,301 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

NOW has been the subject of several research analyst reports. Citigroup upped their price target on shares of ServiceNow to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 3rd. Barclays upped their price target on shares of ServiceNow from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Thursday, July 12th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $210.00 price objective on shares of ServiceNow in a report on Friday, July 20th. Bank of America increased their price objective on shares of ServiceNow from $203.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Finally, BMO Capital Markets increased their price objective on shares of ServiceNow from $177.00 to $205.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $203.44.



Shares of NYSE NOW opened at $164.23 on Tuesday. The company has a market cap of $29.67 billion, a PE ratio of -156.41, a PEG ratio of 33.32 and a beta of 1.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.28. ServiceNow Inc has a 1 year low of $112.84 and a 1 year high of $206.29.

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

In other news, insider Chirantan Jitendra Desai sold 2,031 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $187.01, for a total transaction of $379,817.31. Following the completion of the sale, the insider now owns 2,534 shares in the company, valued at approximately $473,883.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $185.88, for a total transaction of $7,343,375.28. Following the sale, 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. Insiders have sold a total of 190,350 shares of company stock valued at $35,102,979 in the last 90 days. Insiders own 1.60% of the company’s stock.

About ServiceNow

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.

Further Reading: Should You Consider an Index Fund?

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow Inc (NYSE:NOW).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply