ServiceNow, Inc. $NOW Shares Sold by Clarius Group LLC

Clarius Group LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6.8% in the 2nd quarter, Holdings Channel reports. The fund owned 1,995 shares of the information technology services provider’s stock after selling 146 shares during the quarter. Clarius Group LLC’s holdings in ServiceNow were worth $2,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of NOW. Checchi Capital Advisers LLC increased its holdings in shares of ServiceNow by 4.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,626 shares of the information technology services provider’s stock valued at $1,671,000 after purchasing an additional 75 shares during the period. Willner & Heller LLC increased its stake in ServiceNow by 83.9% in the 2nd quarter. Willner & Heller LLC now owns 662 shares of the information technology services provider’s stock valued at $681,000 after buying an additional 302 shares during the period. Sava Infond d.o.o. raised its position in ServiceNow by 10.1% during the 2nd quarter. Sava Infond d.o.o. now owns 28,010 shares of the information technology services provider’s stock worth $28,797,000 after buying an additional 2,570 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in shares of ServiceNow in the 2nd quarter worth $5,633,000. Finally, Quent Capital LLC boosted its holdings in shares of ServiceNow by 5.7% in the second quarter. Quent Capital LLC now owns 982 shares of the information technology services provider’s stock valued at $1,010,000 after acquiring an additional 53 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

NOW opened at $911.75 on Friday. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The stock has a market cap of $189.64 billion, a P/E ratio of 114.83, a P/E/G ratio of 4.11 and a beta of 0.92. The stock’s 50 day simple moving average is $914.67 and its 200 day simple moving average is $929.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the business earned $3.13 earnings per share. ServiceNow’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 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NOW. Barclays set a $1,210.00 price target on shares of ServiceNow in a report on Thursday, July 24th. Bank of America boosted their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Oppenheimer reissued an “outperform” rating and issued a $1,150.00 price target (up from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Morgan Stanley upgraded ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $1,040.00 to $1,250.00 in a research note on Wednesday, September 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 price objective on shares of ServiceNow in a research report on Thursday, July 24th. One investment 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 stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $1,122.20.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 1,097 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 9,307 shares in the company, valued at approximately $8,516,928.77. This trade represents a 10.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Fipps sold 1,452 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the sale, the insider directly owned 457 shares in the company, valued at $409,037.85. This trade represents a 76.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock worth $16,798,825 in the last 90 days. 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.