RGM Capital LLC Sells 93,798 Shares of ServiceNow Inc (NYSE:NOW)

RGM Capital LLC lowered its stake in ServiceNow Inc (NYSE:NOW) by 23.2% during the second quarter, HoldingsChannel.com reports. The firm owned 310,291 shares of the information technology services provider’s stock after selling 93,798 shares during the period. ServiceNow makes up about 6.1% of RGM Capital LLC’s holdings, making the stock its 8th biggest holding. RGM Capital LLC’s holdings in ServiceNow were worth $85,197,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NOW. Geode Capital Management LLC lifted its stake in shares of ServiceNow by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 1,536,350 shares of the information technology services provider’s stock valued at $273,336,000 after purchasing an additional 55,767 shares during the period. Dimensional Fund Advisors LP raised its stake in ServiceNow by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 165,311 shares of the information technology services provider’s stock worth $29,442,000 after buying an additional 5,052 shares during the period. Toronto Dominion Bank raised its stake in ServiceNow by 34.7% during the 1st quarter. Toronto Dominion Bank now owns 32,283 shares of the information technology services provider’s stock worth $7,955,000 after buying an additional 8,323 shares during the period. Miracle Mile Advisors LLC acquired a new stake in ServiceNow during the 1st quarter worth $246,000. Finally, Fiduciary Trust Co. acquired a new stake in ServiceNow during the 1st quarter worth $234,000. 90.83% of the stock is currently owned by institutional investors.

In other ServiceNow news, insider Chirantan Jitendra Desai sold 1,563 shares of ServiceNow stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $302.30, for a total value of $472,494.90. Following the sale, the insider now owns 32,824 shares of the company’s stock, valued at approximately $9,922,695.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Scarpelli sold 31,183 shares of ServiceNow stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $260.22, for a total value of $8,114,440.26. Following the completion of the sale, the chief financial officer now directly owns 36,200 shares in the company, valued at approximately $9,419,964. The disclosure for this sale can be found here. Insiders sold a total of 95,012 shares of company stock worth $25,744,347 in the last three months. Company insiders own 1.00% of the company’s stock.



Several analysts recently commented on the company. Raymond James raised their price objective on ServiceNow from $340.00 to $342.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada reaffirmed a “top pick” rating and set a $320.00 price objective (up previously from $300.00) on shares of ServiceNow in a research note on Tuesday, September 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $315.00 price objective (up previously from $295.00) on shares of ServiceNow in a research note on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and set a $330.00 price objective (up previously from $300.00) on shares of ServiceNow in a research note on Thursday, July 25th. Finally, Credit Suisse Group raised their price objective on ServiceNow from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $292.34.

Shares of NOW traded up $9.22 during midday trading on Monday, hitting $261.18. The stock had a trading volume of 49,193 shares, compared to its average volume of 1,598,864. The company has a 50 day simple moving average of $265.00 and a two-hundred day simple moving average of $263.31. ServiceNow Inc has a twelve month low of $147.63 and a twelve month high of $303.17. The firm has a market cap of $48.15 billion, a price-to-earnings ratio of 1,305.75, a price-to-earnings-growth ratio of 21.58 and a beta of 1.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. ServiceNow had a return on equity of 4.29% and a net margin of 0.09%. The firm had revenue of $833.90 million for the quarter, compared to the consensus estimate of $831.50 million. During the same quarter last year, the business posted $0.49 EPS. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. Analysts forecast that ServiceNow Inc will post 0.43 EPS for the current fiscal year.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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