Dupont Capital Management Corp Lowers Position in ServiceNow, Inc. (NYSE:NOW)

Dupont Capital Management Corp cut its holdings in shares of ServiceNow, Inc. (NYSE:NOWFree Report) by 2.5% in the 4th quarter, HoldingsChannel reports. The firm owned 16,363 shares of the information technology services provider’s stock after selling 426 shares during the quarter. Dupont Capital Management Corp’s holdings in ServiceNow were worth $11,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its position in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. PFG Private Wealth Management LLC purchased a new stake in shares of ServiceNow during the 3rd quarter valued at $28,000. First Capital Advisors Group LLC. purchased a new stake in shares of ServiceNow during the 2nd quarter valued at $29,000. High Net Worth Advisory Group LLC purchased a new stake in shares of ServiceNow during the 1st quarter valued at $29,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of ServiceNow during the 4th quarter valued at $41,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In related news, insider Paul John Smith sold 5,159 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 5,159 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the transaction, the insider now directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,164 shares of company stock valued at $9,940,303. Insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NOW. Argus lifted their price objective on ServiceNow from $675.00 to $770.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Barclays lifted their price objective on ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. Citigroup raised their target price on ServiceNow from $862.00 to $896.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Oppenheimer raised their target price on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Finally, TheStreet upgraded ServiceNow from a “c+” rating to a “b-” rating in a research note on Friday, December 8th. Two analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $762.96.

View Our Latest Stock Report on NOW

ServiceNow Trading Down 1.5 %

NYSE NOW opened at $757.00 on Wednesday. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32. The stock has a market cap of $155.19 billion, a P/E ratio of 90.01, a P/E/G ratio of 4.89 and a beta of 0.97. The stock’s fifty day moving average price is $770.51 and its 200-day moving average price is $684.36. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20.

ServiceNow (NYSE:NOWGet Free Report) last released its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the firm posted $0.88 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow, Inc. will post 6.11 EPS for the current fiscal year.

ServiceNow Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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