Bailard Inc. Lowers Position in ServiceNow, Inc. (NYSE:NOW)

Bailard Inc. cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,070 shares of the information technology services provider’s stock after selling 338 shares during the period. Bailard Inc.’s holdings in ServiceNow were worth $11,998,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its position in shares of ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock valued at $874,258,000 after acquiring an additional 12,533 shares in the last quarter. FMR LLC lifted its position in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock valued at $6,232,339,000 after acquiring an additional 272,506 shares in the last quarter. Parr Mcknight Wealth Management Group LLC purchased a new position in shares of ServiceNow in the first quarter valued at about $1,820,000. Nicholas Investment Partners LP lifted its position in shares of ServiceNow by 223.5% in the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider’s stock valued at $2,974,000 after acquiring an additional 1,938 shares in the last quarter. Finally, OMNI 360 Wealth Inc. purchased a new position in shares of ServiceNow in the first quarter valued at about $285,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research analyst reports. Raymond James Financial decreased their target price on ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. TD Securities reiterated a “buy” rating and issued a $1,100.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their target price on ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Mizuho boosted their target price on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. Finally, Jefferies Financial Group decreased their target price on ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $1,073.13.

ServiceNow Stock Up 1.0%

Shares of NYSE NOW opened at $966.78 on Thursday. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The stock’s fifty day simple moving average is $1,007.21 and its two-hundred day simple moving average is $957.83. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $200.10 billion, a PE ratio of 131.36, a price-to-earnings-growth ratio of 4.40 and a beta of 0.94.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business posted $3.41 EPS. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity

In other news, Director Anita M. Sands sold 239 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the completion of the sale, the director owned 10,404 shares in the company, valued at approximately $10,924,200. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,601 shares of company stock worth $6,577,363. Company insiders own 0.38% of the company’s stock.

ServiceNow Company Profile

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.