Conning Inc. Sells 53 Shares of ServiceNow, Inc. $NOW

Conning Inc. lessened its position in ServiceNow, Inc. (NYSE:NOW) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,199 shares of the information technology services provider’s stock after selling 53 shares during the quarter. Conning Inc.’s holdings in ServiceNow were worth $1,233,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Global X Japan Co. Ltd. bought a new stake in ServiceNow in the 2nd quarter valued at $30,000. Bogart Wealth LLC boosted its holdings in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow during the 1st quarter worth about $26,000. WASHINGTON TRUST Co lifted its holdings in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares during the period. Finally, Dagco Inc. bought a new position in shares of ServiceNow during the 1st quarter worth about $33,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Trading Down 3.2%

NOW opened at $888.63 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $184.84 billion, a PE ratio of 111.92, a PEG ratio of 4.13 and a beta of 0.92. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The firm has a 50-day moving average price of $909.21 and a two-hundred day moving average price of $931.62.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the company posted $3.13 EPS. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 1,097 shares of ServiceNow stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the completion of the sale, the director owned 9,307 shares in the company, valued at $8,516,928.77. The trade was a 10.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the sale, the insider owned 457 shares of the company’s stock, valued at approximately $409,037.85. This represents a 76.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock worth $16,798,825 over the last 90 days. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

NOW has been the subject of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $1,150.00 price objective (up from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Wells Fargo & Company raised their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Bank of America raised their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. UBS Group reduced their price objective on shares of ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, July 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,122.20.

ServiceNow 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.