ServiceNow, Inc. (NYSE:NOW) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,459 shares of the information technology services provider’s stock after selling 409 shares during the quarter. E Fund Management Co. Ltd.’s holdings in ServiceNow were worth $3,508,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow in the first quarter worth $25,000. Versant Capital Management Inc raised its holdings in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of ServiceNow in the fourth quarter worth $29,000. EntryPoint Capital LLC raised its holdings in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow in the second quarter worth $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the transaction, the insider now owns 4,019 shares in the company, valued at $3,319,372.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock valued at $5,608,936 over the last quarter. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NOW shares. Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 price target on shares of ServiceNow in a report on Tuesday, July 23rd. BMO Capital Markets lifted their price objective on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Guggenheim reaffirmed a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. Stifel Nicolaus lifted their price objective on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, KeyCorp lowered their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $855.44.

ServiceNow Price Performance

Shares of NYSE NOW opened at $886.77 on Wednesday. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $899.61. The business has a 50-day moving average of $812.61 and a 200-day moving average of $768.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $181.79 billion, a price-to-earnings ratio of 94.84, a PEG ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. The company’s revenue was up 22.2% compared to the same quarter last year. On average, equities analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.