Catalyst Capital Advisors LLC Cuts Stock Holdings in ServiceNow Inc (NYSE:NOW)

Catalyst Capital Advisors LLC trimmed its holdings in shares of ServiceNow Inc (NYSE:NOW) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,900 shares of the information technology services provider’s stock after selling 300 shares during the period. Catalyst Capital Advisors LLC’s holdings in ServiceNow were worth $2,259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Delta Asset Management LLC TN purchased a new stake in ServiceNow during the third quarter valued at about $25,000. San Francisco Sentry Investment Group CA boosted its position in ServiceNow by 650.0% during the second quarter. San Francisco Sentry Investment Group CA now owns 105 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 91 shares during the period. AdvisorNet Financial Inc purchased a new stake in ServiceNow during the third quarter valued at about $31,000. North Star Investment Management Corp. purchased a new stake in ServiceNow during the third quarter valued at about $32,000. Finally, Motco purchased a new stake in ServiceNow during the second quarter valued at about $33,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

In related news, Director Frederic B. Luddy sold 22,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $269.37, for a total value of $5,926,140.00. Following the completion of the transaction, the director now directly owns 1,213 shares of the company’s stock, valued at $326,745.81. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Patricia L. Wadors sold 1,559 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $239.20, for a total transaction of $372,912.80. Following the completion of the transaction, the insider now directly owns 3,094 shares of the company’s stock, valued at $740,084.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,667 shares of company stock valued at $8,418,963. 1.00% of the stock is owned by insiders.

NOW has been the subject of several analyst reports. UBS Group upped their price target on shares of ServiceNow to $332.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $250.00 to $267.00 in a research report on Wednesday, October 16th. Mizuho lowered shares of ServiceNow from a “buy” rating to a “neutral” rating and cut their price target for the company from $308.00 to $230.00 in a research report on Wednesday, October 23rd. Raymond James cut their price target on shares of ServiceNow from $342.00 to $300.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 24th. Finally, William Blair restated an “outperform” rating on shares of ServiceNow in a research report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $292.31.

NOW stock opened at $252.53 on Wednesday. ServiceNow Inc has a 1 year low of $147.63 and a 1 year high of $303.17. The company has a market cap of $46.58 billion, a P/E ratio of 1,262.65, a PEG ratio of 18.45 and a beta of 1.28. The firm has a 50-day moving average of $251.96 and a 200 day moving average of $267.12. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.05 and a quick ratio of 1.05.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.81. ServiceNow had a net margin of 1.09% and a return on equity of 6.62%. The company had revenue of $885.80 million during the quarter, compared to the consensus estimate of $885.53 million. During the same period in the prior year, the firm earned $0.68 earnings per share. ServiceNow’s revenue was up 31.6% on a year-over-year basis. On average, equities research analysts expect that ServiceNow Inc will post 0.48 earnings per share for the current fiscal year.

ServiceNow 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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