Candriam S.C.A. Cuts Position in ServiceNow, Inc. (NYSE:NOW)

Candriam S.C.A. trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,157 shares of the information technology services provider’s stock after selling 960 shares during the period. ServiceNow makes up approximately 0.8% of Candriam S.C.A.’s holdings, making the stock its 22nd biggest holding. Candriam S.C.A. owned approximately 0.08% of ServiceNow worth $133,851,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOW. Optas LLC grew its stake in shares of ServiceNow by 1.7% during the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after acquiring an additional 14 shares during the last quarter. Cedar Wealth Management LLC grew its position in ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after purchasing an additional 14 shares during the last quarter. Financial Advocates Investment Management increased its stake in ServiceNow by 2.7% during the 2nd quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 14 shares in the last quarter. Ndwm LLC lifted its stake in shares of ServiceNow by 0.6% during the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock worth $1,900,000 after buying an additional 14 shares during the period. Finally, Forbes J M & Co. LLP lifted its stake in shares of ServiceNow by 0.3% during the first quarter. Forbes J M & Co. LLP now owns 5,293 shares of the information technology services provider’s stock worth $4,035,000 after buying an additional 15 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wolfe Research restated an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a research note on Friday, May 10th. JPMorgan Chase & Co. raised their price objective on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. BMO Capital Markets upped their target price on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JMP Securities raised their price target on shares of ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 25th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $849.62.

ServiceNow Trading Down 1.2 %

Shares of NOW stock opened at $825.39 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $863.85. The company’s 50-day moving average price is $799.33 and its 200-day moving average price is $762.78. The stock has a market cap of $169.20 billion, a price-to-earnings ratio of 88.28, a PEG ratio of 5.13 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 EPS. As a group, equities analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,027,502.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is currently owned by company insiders.

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.