Stifel Financial Corp Sells 9,030 Shares of ServiceNow Inc (NYSE:NOW)

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Stifel Financial Corp trimmed its position in ServiceNow Inc (NYSE:NOW) by 16.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 46,229 shares of the information technology services provider’s stock after selling 9,030 shares during the period. Stifel Financial Corp’s holdings in ServiceNow were worth $11,784,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. United Asset Strategies Inc. grew its position in shares of ServiceNow by 2.1% during the 3rd quarter. United Asset Strategies Inc. now owns 1,933 shares of the information technology services provider’s stock valued at $491,000 after acquiring an additional 40 shares during the period. Dupont Capital Management Corp grew its position in shares of ServiceNow by 1.5% during the 3rd quarter. Dupont Capital Management Corp now owns 3,036 shares of the information technology services provider’s stock valued at $771,000 after acquiring an additional 44 shares during the period. Cetera Advisor Networks LLC grew its position in shares of ServiceNow by 5.2% during the 3rd quarter. Cetera Advisor Networks LLC now owns 907 shares of the information technology services provider’s stock valued at $232,000 after acquiring an additional 45 shares during the period. Bbva USA Bancshares Inc. grew its position in shares of ServiceNow by 1.6% during the 2nd quarter. Bbva USA Bancshares Inc. now owns 3,286 shares of the information technology services provider’s stock valued at $902,000 after acquiring an additional 53 shares during the period. Finally, Vestmark Advisory Solutions Inc. grew its position in shares of ServiceNow by 6.2% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 930 shares of the information technology services provider’s stock valued at $236,000 after acquiring an additional 54 shares during the period. 91.49% of the stock is owned by institutional investors and hedge funds.

In other ServiceNow news, insider David Schneider sold 3,559 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $280.97, for a total value of $999,972.23. Following the sale, the insider now directly owns 42,786 shares in the company, valued at approximately $12,021,582.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederic B. Luddy sold 1,015 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $254.79, for a total transaction of $258,611.85. Following the completion of the sale, the director now owns 1,213 shares in the company, valued at $309,060.27. The disclosure for this sale can be found here. Insiders sold a total of 63,693 shares of company stock worth $16,645,095 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

NOW opened at $277.35 on Tuesday. The company has a 50 day moving average of $257.70 and a 200 day moving average of $267.81. The company has a market cap of $53.07 billion, a PE ratio of 1,386.75, a price-to-earnings-growth ratio of 20.55 and a beta of 1.34. ServiceNow Inc has a 12 month low of $158.00 and a 12 month high of $303.17. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.75.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.81. ServiceNow had a net margin of 1.09% and a return on equity of 6.62%. The company had revenue of $885.80 million during the quarter, compared to the consensus estimate of $885.53 million. During the same period last year, the firm earned $0.68 EPS. ServiceNow’s revenue for the quarter was up 31.6% on a year-over-year basis. Research analysts forecast that ServiceNow Inc will post 0.49 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on NOW shares. Deutsche Bank reduced their target price on shares of ServiceNow from $305.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Piper Jaffray Companies started coverage on shares of ServiceNow in a research report on Friday, November 8th. They set an “overweight” rating and a $305.00 target price for the company. BMO Capital Markets reduced their target price on shares of ServiceNow from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Morgan Stanley downgraded shares of ServiceNow from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $250.00 to $267.00 in a research report on Wednesday, October 16th. Finally, SunTrust Banks started coverage on shares of ServiceNow in a research report on Wednesday, October 2nd. They set a “buy” rating and a $321.00 target price for the company. Six research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $290.45.

About ServiceNow

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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