Andra AP fonden reduced its holdings in ServiceNow Inc (NYSE:NOW) by 18.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,900 shares of the information technology services provider’s stock after selling 3,200 shares during the period. Andra AP fonden’s holdings in ServiceNow were worth $3,529,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Delta Asset Management LLC TN purchased a new stake in ServiceNow during the third quarter worth $25,000. San Francisco Sentry Investment Group CA boosted its holdings in ServiceNow by 650.0% during the second quarter. San Francisco Sentry Investment Group CA now owns 105 shares of the information technology services provider’s stock worth $29,000 after buying an additional 91 shares in the last quarter. Motco purchased a new stake in ServiceNow during the second quarter worth $33,000. AdvisorNet Financial Inc purchased a new stake in ServiceNow during the third quarter worth $31,000. Finally, North Star Investment Management Corp. purchased a new stake in ServiceNow during the third quarter worth $32,000. 91.49% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently issued reports on the stock. Raymond James lowered their price target on shares of ServiceNow from $342.00 to $300.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 24th. BMO Capital Markets lowered their price target on shares of ServiceNow from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. SunTrust Banks assumed coverage on shares of ServiceNow in a report on Wednesday, October 2nd. They set a “buy” rating and a $321.00 price target on the stock. Canaccord Genuity lowered their price target on shares of ServiceNow from $315.00 to $285.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Cfra raised shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $290.45.

NOW opened at $277.35 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.75. The company has a market cap of $53.07 billion, a price-to-earnings ratio of 1,386.75, a PEG ratio of 20.55 and a beta of 1.34. ServiceNow Inc has a 52-week low of $158.00 and a 52-week high of $303.17. The firm’s fifty day simple moving average is $257.70 and its two-hundred day simple moving average is $267.81.

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

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

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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