Marble Arch Investments LP lowered its position in shares of ServiceNow Inc (NYSE:NOW) by 92.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,950 shares of the information technology services provider’s stock after selling 376,550 shares during the period. ServiceNow makes up approximately 6.7% of Marble Arch Investments LP’s portfolio, making the stock its 9th largest position. Marble Arch Investments LP’s holdings in ServiceNow were worth $5,510,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Peregrine Capital Management LLC increased its position in shares of ServiceNow by 0.3% during the second quarter. Peregrine Capital Management LLC now owns 97,301 shares of the information technology services provider’s stock valued at $16,782,000 after acquiring an additional 284 shares in the last quarter. IHT Wealth Management LLC increased its position in shares of ServiceNow by 66.7% during the first quarter. IHT Wealth Management LLC now owns 750 shares of the information technology services provider’s stock valued at $121,000 after acquiring an additional 300 shares in the last quarter. Macguire Cheswick & Tuttle Investment Counsel LLC grew its position in ServiceNow by 4.8% in the 2nd quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 6,505 shares of the information technology services provider’s stock worth $1,122,000 after purchasing an additional 300 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in ServiceNow by 33.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,228 shares of the information technology services provider’s stock worth $212,000 after purchasing an additional 305 shares during the period. Finally, First Republic Investment Management Inc. grew its position in ServiceNow by 3.0% in the 1st quarter. First Republic Investment Management Inc. now owns 10,824 shares of the information technology services provider’s stock worth $1,791,000 after purchasing an additional 312 shares during the period. 95.80% of the stock is owned by institutional investors.

Shares of ServiceNow stock opened at $204.58 on Friday. The firm has a market cap of $36.08 billion, a PE ratio of -194.84, a price-to-earnings-growth ratio of 48.14 and a beta of 1.25. ServiceNow Inc has a 1-year low of $110.17 and a 1-year high of $206.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.28 and a current ratio of 1.28.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 25th. The information technology services provider reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The business had revenue of $631.05 million for the quarter, compared to analysts’ expectations of $616.68 million. ServiceNow had a negative net margin of 4.16% and a negative return on equity of 7.48%. The company’s revenue was up 40.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. equities analysts expect that ServiceNow Inc will post 0.16 EPS for the current fiscal year.

In related news, Director Frederic B. Luddy sold 32,500 shares of ServiceNow stock in a transaction on Monday, June 18th. The shares were sold at an average price of $185.22, for a total transaction of $6,019,650.00. Following the transaction, the director now owns 282,383 shares in the company, valued at approximately $52,302,979.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chirantan Jitendra Desai sold 2,031 shares of ServiceNow stock in a transaction on Thursday, July 12th. The shares were sold at an average price of $188.83, for a total transaction of $383,513.73. Following the transaction, the insider now owns 2,534 shares in the company, valued at approximately $478,495.22. The disclosure for this sale can be found here. Insiders have sold a total of 188,319 shares of company stock worth $34,841,870 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

A number of research firms have commented on NOW. Royal Bank of Canada reaffirmed a “buy” rating and issued a $205.00 target price on shares of ServiceNow in a research report on Thursday, July 26th. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $163.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, July 26th. Stifel Nicolaus lifted their target price on shares of ServiceNow from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. KeyCorp lifted their target price on shares of ServiceNow from $194.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, July 26th. Finally, Credit Suisse Group lifted their target price on shares of ServiceNow from $180.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $197.54.

ServiceNow Company Profile

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. It offers customer and facilities service management, orchestration core, service mapping, cloud and portfolio management, edge encryption, performance analytics, service portal designer, visual task boards, and configuration management database.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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