Quadrature Capital Ltd Has $1.26 Million Stock Position in ServiceNow Inc (NYSE:NOW)

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Quadrature Capital Ltd reduced its position in ServiceNow Inc (NYSE:NOW) by 69.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,104 shares of the information technology services provider’s stock after selling 6,944 shares during the period. Quadrature Capital Ltd’s holdings in ServiceNow were worth $1,258,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of NOW. Public Employees Retirement Association of Colorado lifted its stake in ServiceNow by 5.3% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 35,905 shares of the information technology services provider’s stock valued at $10,290,000 after purchasing an additional 1,817 shares during the last quarter. Prudential PLC lifted its stake in ServiceNow by 63.8% in the 1st quarter. Prudential PLC now owns 6,330 shares of the information technology services provider’s stock valued at $1,814,000 after purchasing an additional 2,465 shares during the last quarter. Sigma Planning Corp lifted its stake in ServiceNow by 6.7% in the 1st quarter. Sigma Planning Corp now owns 1,638 shares of the information technology services provider’s stock valued at $469,000 after purchasing an additional 103 shares during the last quarter. Natixis Advisors L.P. raised its holdings in ServiceNow by 91.5% in the 1st quarter. Natixis Advisors L.P. now owns 38,415 shares of the information technology services provider’s stock valued at $11,009,000 after acquiring an additional 18,359 shares during the period. Finally, Stratos Wealth Partners LTD. bought a new position in ServiceNow in the 1st quarter valued at about $218,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

ServiceNow stock traded down $18.49 during mid-day trading on Friday, reaching $450.35. The company had a trading volume of 2,676,824 shares, compared to its average volume of 1,855,234. The business has a fifty day simple moving average of $444.91 and a 200 day simple moving average of $370.37. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28. The company has a market cap of $86.38 billion, a P/E ratio of 122.38, a P/E/G ratio of 15.75 and a beta of 1.29. ServiceNow Inc has a fifty-two week low of $213.99 and a fifty-two week high of $501.82.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, July 29th. The information technology services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $1.03. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. ServiceNow had a return on equity of 11.09% and a net margin of 18.42%. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. Research analysts forecast that ServiceNow Inc will post 0.99 EPS for the current year.

In other ServiceNow news, CRO Kevin Haverty sold 6,601 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $440.43, for a total value of $2,907,278.43. Following the completion of the sale, the executive now owns 16,337 shares in the company, valued at $7,195,304.91. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frederic B. Luddy sold 1,213 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $387.62, for a total value of $470,183.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,851 shares of company stock valued at $43,935,306. 1.00% of the stock is owned by company insiders.

Several research firms have weighed in on NOW. Barclays increased their price target on shares of ServiceNow from $380.00 to $485.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Mizuho increased their price target on shares of ServiceNow from $445.00 to $460.00 in a report on Thursday, July 30th. Morgan Stanley increased their price target on shares of ServiceNow from $336.00 to $467.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Royal Bank of Canada raised their target price on shares of ServiceNow from $500.00 to $510.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, JMP Securities raised their target price on shares of ServiceNow from $350.00 to $460.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $433.85.

ServiceNow Company Profile

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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