Penserra Capital Management LLC Sells 12 Shares of ServiceNow, Inc. (NYSE:NOW)

Penserra Capital Management LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,079 shares of the information technology services provider’s stock after selling 12 shares during the period. Penserra Capital Management LLC’s holdings in ServiceNow were worth $2,753,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Catalyst Financial Partners LLC increased its holdings in ServiceNow by 1.0% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after acquiring an additional 11 shares during the last quarter. First Affirmative Financial Network increased its stake in shares of ServiceNow by 1.4% in the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock worth $801,000 after purchasing an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 12 shares during the period. BluePointe Capital Management LLC lifted its stake in shares of ServiceNow by 0.6% during the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock valued at $1,801,000 after buying an additional 12 shares in the last quarter. Finally, Morling Financial Advisors LLC boosted its holdings in ServiceNow by 2.5% in the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after buying an additional 13 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total value of $76,831.44. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $3,060,115.38. This trade represents a 2.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,787 shares of company stock valued at $17,841,028 in the last quarter. Insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 0.7 %

Shares of NOW stock opened at $1,052.82 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50-day moving average of $951.73 and a 200 day moving average of $838.61. The stock has a market capitalization of $216.88 billion, a PE ratio of 163.74, a P/E/G ratio of 6.09 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,068.88.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NOW shares. Citigroup increased their target price on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Truist Financial raised their target price on ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. BMO Capital Markets increased their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Barclays boosted their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Scotiabank initiated coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $989.07.

About ServiceNow

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.