ServiceNow, Inc. $NOW Shares Sold by Hyperion Asset Management Ltd

Hyperion Asset Management Ltd decreased its stake in ServiceNow, Inc. (NYSE:NOW) by 24.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,946 shares of the information technology services provider’s stock after selling 88,120 shares during the period. ServiceNow makes up 0.7% of Hyperion Asset Management Ltd’s portfolio, making the stock its 20th biggest position. Hyperion Asset Management Ltd’s holdings in ServiceNow were worth $27,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Millstone Evans Group LLC grew its position in ServiceNow by 400.0% in the fourth quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 132 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position in shares of ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Blueline Advisors LLC acquired a new position in shares of ServiceNow during the fourth quarter worth $25,000. Measured Wealth Private Client Group LLC boosted its stake in shares of ServiceNow by 560.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 140 shares during the period. Finally, Wealth Watch Advisors INC boosted its stake in shares of ServiceNow by 432.3% in the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus dropped their price target on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 target price on ServiceNow in a research report on Thursday, April 23rd. Argus reduced their price target on ServiceNow from $180.00 to $134.00 and set a “buy” rating for the company in a report on Friday, April 24th. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a report on Monday, August 3rd. Finally, Morgan Stanley set a $180.00 price target on shares of ServiceNow in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $143.39.

Insider Buying and Selling at ServiceNow

In related news, insider Paul Fipps sold 1,048 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Paul Edward Chamberlain sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,993 shares of company stock worth $1,716,436 over the last 90 days. Insiders own 0.34% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $127.51 on Wednesday. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market cap of $131.85 billion, a price-to-earnings ratio of 79.69, a PEG ratio of 2.24 and a beta of 0.94. The stock has a 50 day moving average of $106.56 and a 200-day moving average of $105.74.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period in the prior year, the company posted $0.81 EPS. The business’s revenue was up 24.0% compared to the same quarter last year. As a group, analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current year.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.