Commonwealth Equity Services LLC lowered its holdings in ServiceNow Inc (NYSE:NOW) by 24.8% in the first quarter, HoldingsChannel reports. The firm owned 28,702 shares of the information technology services provider’s stock after selling 9,486 shares during the quarter. Commonwealth Equity Services LLC’s holdings in ServiceNow were worth $7,074,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Berkshire Capital Holdings Inc. grew its position in shares of ServiceNow by 889.5% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 41,460 shares of the information technology services provider’s stock valued at $7,382,000 after acquiring an additional 37,270 shares during the period. Next Capital Management LLC bought a new position in shares of ServiceNow in the 4th quarter valued at about $32,000. Advisors Asset Management Inc. grew its position in shares of ServiceNow by 26.6% in the 4th quarter. Advisors Asset Management Inc. now owns 20,609 shares of the information technology services provider’s stock valued at $3,669,000 after acquiring an additional 4,325 shares during the period. Dock Street Asset Management Inc. bought a new position in shares of ServiceNow in the 1st quarter valued at about $937,000. Finally, Jennison Associates LLC grew its position in shares of ServiceNow by 282.1% in the 4th quarter. Jennison Associates LLC now owns 2,406,077 shares of the information technology services provider’s stock valued at $428,402,000 after acquiring an additional 1,776,380 shares during the period. 93.08% of the stock is owned by institutional investors and hedge funds.

In other ServiceNow news, Director Frederic B. Luddy sold 22,000 shares of ServiceNow stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $237.38, for a total value of $5,222,360.00. Following the completion of the sale, the director now owns 1,770 shares in the company, valued at approximately $420,162.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patricia L. Wadors sold 1,559 shares of ServiceNow stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $263.61, for a total transaction of $410,967.99. Following the completion of the sale, the insider now owns 3,093 shares of the company’s stock, valued at approximately $815,345.73. The disclosure for this sale can be found here. Insiders sold a total of 118,944 shares of company stock valued at $31,224,589 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Shares of ServiceNow stock opened at $266.29 on Wednesday. ServiceNow Inc has a twelve month low of $147.63 and a twelve month high of $281.74. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $50.92 billion, a price-to-earnings ratio of 1,331.45, a price-to-earnings-growth ratio of 20.25 and a beta of 1.40.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.10. ServiceNow had a negative net margin of 1.38% and a positive return on equity of 1.64%. The business had revenue of $788.93 million during the quarter, compared to analysts’ expectations of $768.09 million. During the same quarter in the previous year, the company earned $0.56 EPS. The business’s revenue was up 33.9% on a year-over-year basis. As a group, equities research analysts expect that ServiceNow Inc will post 0.48 EPS for the current fiscal year.

A number of brokerages have recently commented on NOW. Piper Jaffray Companies lifted their price objective on shares of ServiceNow from $230.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Canaccord Genuity raised their target price on shares of ServiceNow from $240.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. UBS Group raised their target price on shares of ServiceNow from $271.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. JMP Securities raised their target price on shares of ServiceNow from $225.00 to $280.00 and gave the stock a “market outperform” rating in a research note on Thursday, April 25th. Finally, Credit Suisse Group raised their target price on shares of ServiceNow from $225.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. ServiceNow has a consensus rating of “Buy” and a consensus target price of $270.68.

TRADEMARK VIOLATION WARNING: “Commonwealth Equity Services LLC Has $7.07 Million Position in ServiceNow Inc (NYSE:NOW)” was reported by Daily Political and is owned by of Daily Political. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.dailypolitical.com/2019/06/12/commonwealth-equity-services-llc-has-7-07-million-position-in-servicenow-inc-nysenow.html.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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