ServiceNow, Inc. (NYSE:NOW) Stake Trimmed by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW) by 8.6% during the third quarter, HoldingsChannel reports. The firm owned 1,475 shares of the information technology services provider’s stock after selling 138 shares during the period. Angeles Investment Advisors LLC’s holdings in ServiceNow were worth $1,319,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in ServiceNow by 89,137.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after acquiring an additional 1,183,739 shares in the last quarter. Swedbank AB bought a new stake in ServiceNow in the first quarter valued at $897,908,000. Vanguard Group Inc. boosted its stake in ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after purchasing an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in ServiceNow in the second quarter worth $218,786,000. Finally, Acadian Asset Management LLC boosted its stake in ServiceNow by 233.4% in the first quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock worth $295,198,000 after purchasing an additional 271,073 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Royal Bank of Canada lifted their price objective on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company boosted their target price on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Tuesday. Canaccord Genuity Group lifted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC lifted their price objective on ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $900.00 to $960.00 in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the transaction, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $3,060,115.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now directly owns 42,920 shares of the company’s stock, valued at approximately $43,740,630.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,359 shares of company stock worth $5,038,241 over the last three months. 0.25% of the stock is owned by company insiders.

ServiceNow Price Performance

Shares of NOW traded down $0.44 during trading hours on Wednesday, reaching $1,047.85. The stock had a trading volume of 57,284 shares, compared to its average volume of 1,275,007. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,053.26. The stock has a market capitalization of $215.86 billion, a PE ratio of 163.03, a PEG ratio of 5.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The company’s 50-day moving average is $920.45 and its two-hundred day moving average is $818.12.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

About ServiceNow

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.