SG Americas Securities LLC Trims Stock Position in ServiceNow, Inc. (NYSE:NOW)

SG Americas Securities LLC cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 10.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,167 shares of the information technology services provider’s stock after selling 4,339 shares during the period. SG Americas Securities LLC’s holdings in ServiceNow were worth $27,574,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Metis Global Partners LLC raised its stake in ServiceNow by 1.0% during the 1st quarter. Metis Global Partners LLC now owns 10,868 shares of the information technology services provider’s stock valued at $8,286,000 after acquiring an additional 112 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of ServiceNow by 177.9% in the 1st quarter. Empowered Funds LLC now owns 24,095 shares of the information technology services provider’s stock valued at $18,370,000 after buying an additional 15,424 shares during the period. AIA Group Ltd lifted its holdings in shares of ServiceNow by 67.6% in the 1st quarter. AIA Group Ltd now owns 6,429 shares of the information technology services provider’s stock valued at $4,901,000 after buying an additional 2,593 shares during the period. Quantbot Technologies LP lifted its holdings in ServiceNow by 698.6% in the first quarter. Quantbot Technologies LP now owns 11,508 shares of the information technology services provider’s stock valued at $8,774,000 after acquiring an additional 10,067 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of ServiceNow by 0.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 25,280 shares of the information technology services provider’s stock worth $19,273,000 after purchasing an additional 100 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Guggenheim restated a “sell” rating and set a $640.00 target price on shares of ServiceNow in a research report on Monday, July 8th. Morgan Stanley boosted their target price on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. UBS Group decreased their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, BMO Capital Markets decreased their target price on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $812.60.

Insider Activity

In related news, insider Paul John Smith sold 125 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the sale, the insider now owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Christopher Bedi sold 215 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul John Smith sold 125 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $727.38, for a total transaction of $90,922.50. Following the sale, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The disclosure for this sale can be found here. Insiders sold a total of 5,530 shares of company stock valued at $3,997,012 in the last 90 days. 0.25% of the stock is currently owned by insiders.

ServiceNow Trading Up 1.2 %

Shares of NYSE NOW traded up $9.35 on Friday, reaching $758.49. 909,518 shares of the company traded hands, compared to its average volume of 1,170,615. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $815.32. The company has a 50 day moving average of $737.75 and a 200 day moving average of $745.82. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $155.49 billion, a PE ratio of 81.12, a P/E/G ratio of 4.70 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. On average, equities research analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

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.