Scout Investments Inc. Sells 330 Shares of ServiceNow, Inc. (NYSE:NOW)


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Scout Investments Inc. lowered its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,845 shares of the information technology services provider’s stock after selling 330 shares during the quarter. Scout Investments Inc.’s holdings in ServiceNow were worth $12,575,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NOW. AdvisorShares Investments LLC raised its stake in shares of ServiceNow by 18.9% during the 3rd quarter. AdvisorShares Investments LLC now owns 2,877 shares of the information technology services provider’s stock worth $1,395,000 after acquiring an additional 457 shares in the last quarter. First Allied Advisory Services Inc. boosted its stake in ServiceNow by 35.7% during the third quarter. First Allied Advisory Services Inc. now owns 9,492 shares of the information technology services provider’s stock worth $4,604,000 after buying an additional 2,498 shares during the period. Captrust Financial Advisors boosted its stake in ServiceNow by 69.1% during the third quarter. Captrust Financial Advisors now owns 1,591 shares of the information technology services provider’s stock worth $784,000 after buying an additional 650 shares during the period. Guggenheim Capital LLC boosted its stake in shares of ServiceNow by 28.1% in the third quarter. Guggenheim Capital LLC now owns 74,994 shares of the information technology services provider’s stock valued at $36,372,000 after purchasing an additional 16,428 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of ServiceNow by 1.0% in the third quarter. California State Teachers Retirement System now owns 349,541 shares of the information technology services provider’s stock valued at $169,527,000 after purchasing an additional 3,327 shares during the period. Institutional investors and hedge funds own 80.15% of the company’s stock.

Several research firms have recently commented on NOW. Wells Fargo & Company raised their price objective on shares of ServiceNow from $565.00 to $625.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. KeyCorp started coverage on shares of ServiceNow in a research report on Monday, November 23rd. They issued an “overweight” rating and a $620.00 price objective on the stock. BMO Capital Markets boosted their price objective on shares of ServiceNow from $562.00 to $575.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. Royal Bank of Canada boosted their price objective on shares of ServiceNow from $510.00 to $600.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. Finally, Needham & Company LLC boosted their price objective on shares of ServiceNow from $490.00 to $538.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $537.56.

Shares of NYSE NOW opened at $521.71 on Thursday. ServiceNow, Inc. has a 1-year low of $238.93 and a 1-year high of $566.74. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.40 and a quick ratio of 1.40. The business’s fifty day moving average price is $536.72 and its two-hundred day moving average price is $484.27. The firm has a market capitalization of $101.79 billion, a PE ratio of 147.79, a P/E/G ratio of 17.14 and a beta of 1.15.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, October 28th. The information technology services provider reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.18. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.11 billion. ServiceNow had a return on equity of 9.79% and a net margin of 16.60%. Equities research analysts expect that ServiceNow, Inc. will post 1.11 earnings per share for the current fiscal year.

In other ServiceNow news, Director Frederic B. Luddy sold 38,600 shares of the firm’s stock in a transaction that occurred on Wednesday, December 2nd. The stock was sold at an average price of $526.23, for a total value of $20,312,478.00. Following the sale, the director now owns 811 shares of the company’s stock, valued at approximately $426,772.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederic B. Luddy sold 1,658 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $495.49, for a total value of $821,522.42. Following the completion of the sale, the director now directly owns 811 shares in the company, valued at approximately $401,842.39. The disclosure for this sale can be found here. Insiders sold a total of 61,175 shares of company stock worth $31,883,815 over the last three months. 0.72% of the stock is owned by company insiders.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company offers information technology (IT) service management applications; and 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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