United Capital Financial Advisers LLC Sells 278 Shares of ServiceNow Inc (NYSE:NOW)

United Capital Financial Advisers LLC reduced its position in shares of ServiceNow Inc (NYSE:NOW) by 1.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 28,235 shares of the information technology services provider’s stock after selling 278 shares during the quarter. United Capital Financial Advisers LLC’s holdings in ServiceNow were worth $7,752,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KBC Group NV boosted its position in shares of ServiceNow by 275.3% during the 2nd quarter. KBC Group NV now owns 87,151 shares of the information technology services provider’s stock valued at $23,929,000 after acquiring an additional 63,929 shares during the last quarter. Institute for Wealth Management LLC. lifted its position in ServiceNow by 10.6% in the second quarter. Institute for Wealth Management LLC. now owns 3,049 shares of the information technology services provider’s stock worth $837,000 after buying an additional 292 shares during the last quarter. Menta Capital LLC bought a new stake in ServiceNow in the second quarter worth $223,000. Marshall Wace LLP bought a new stake in ServiceNow in the first quarter worth $724,000. Finally, Arcadia Investment Management Corp MI lifted its position in ServiceNow by 219.5% in the second quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the information technology services provider’s stock worth $741,000 after buying an additional 1,855 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

A number of brokerages recently issued reports on NOW. BTIG Research restated a “buy” rating and issued a $320.00 price target on shares of ServiceNow in a research report on Thursday, July 25th. ValuEngine downgraded ServiceNow from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Credit Suisse Group raised their price target on ServiceNow from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group raised their price target on ServiceNow from $285.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird raised their price target on ServiceNow from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $292.34.

Shares of ServiceNow stock traded down $4.85 during trading on Friday, hitting $251.96. 1,261,704 shares of the stock traded hands, compared to its average volume of 1,598,864. The firm has a market cap of $48.15 billion, a P/E ratio of 1,259.80, a price-to-earnings-growth ratio of 21.58 and a beta of 1.34. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.54. ServiceNow Inc has a 52-week low of $147.63 and a 52-week high of $303.17. The stock’s fifty day simple moving average is $265.00 and its 200 day simple moving average is $263.31.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. The firm had revenue of $833.90 million for the quarter, compared to analyst estimates of $831.50 million. ServiceNow had a return on equity of 4.29% and a net margin of 0.09%. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 earnings per share. As a group, equities analysts expect that ServiceNow Inc will post 0.43 EPS for the current year.

In other news, Director Frederic B. Luddy sold 22,000 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $291.33, for a total transaction of $6,409,260.00. Following the transaction, the director now owns 2,983 shares in the company, valued at $869,037.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Schneider sold 3,414 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $291.33, for a total value of $994,600.62. Following the transaction, the insider now owns 44,351 shares in the company, valued at approximately $12,920,776.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,012 shares of company stock worth $25,744,347. Insiders own 1.00% of the company’s stock.

ServiceNow 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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