ServiceNow, Inc. $NOW Position Reduced by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 62.4% in the first quarter, HoldingsChannel.com reports. The firm owned 679,699 shares of the information technology services provider’s stock after selling 1,125,768 shares during the quarter. SG Americas Securities LLC’s holdings in ServiceNow were worth $71,063,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Vanguard Group Inc. boosted its stake in ServiceNow by 404.5% during the fourth quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock valued at $15,619,771,000 after buying an additional 81,752,460 shares in the last quarter. State Street Corp raised its position in ServiceNow by 406.6% in the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after acquiring an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after acquiring an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after acquiring an additional 18,854,775 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of ServiceNow by 335.6% during the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after purchasing an additional 17,514,679 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

ServiceNow stock opened at $92.96 on Tuesday. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48. The firm’s 50 day simple moving average is $99.62 and its 200-day simple moving average is $116.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $95.84 billion, a P/E ratio of 55.40, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 EPS for the quarter, meeting the consensus estimate of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities research analysts predict that ServiceNow, Inc. will post 2.34 EPS for the current year.

Insider Activity

In other news, Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the transaction, the director owned 44,930 shares in the company, valued at approximately $3,919,243.90. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares in the company, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,071 shares of company stock valued at $2,529,956 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research reports. Stifel Nicolaus dropped their target price on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Capital One Financial lifted their price target on shares of ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. BMO Capital Markets dropped their price target on ServiceNow from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Canaccord Genuity Group cut their price objective on ServiceNow from $200.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Finally, Barclays reissued an “overweight” rating and set a $134.00 price objective (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.17.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.