EFG Asset Management Americas Corp. trimmed its holdings in ServiceNow Inc (NYSE:NOW) by 27.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,143 shares of the information technology services provider’s stock after selling 10,082 shares during the period. ServiceNow comprises about 2.7% of EFG Asset Management Americas Corp.’s holdings, making the stock its 3rd largest position. EFG Asset Management Americas Corp.’s holdings in ServiceNow were worth $10,587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peregrine Capital Management LLC increased its holdings in ServiceNow by 3.3% during the second quarter. Peregrine Capital Management LLC now owns 105,878 shares of the information technology services provider’s stock worth $42,887,000 after buying an additional 3,369 shares during the last quarter. Lyell Wealth Management LP increased its holdings in ServiceNow by 5.5% during the second quarter. Lyell Wealth Management LP now owns 22,635 shares of the information technology services provider’s stock worth $9,169,000 after buying an additional 1,173 shares during the last quarter. Chartwell Investment Partners LLC increased its holdings in ServiceNow by 4.4% during the second quarter. Chartwell Investment Partners LLC now owns 21,695 shares of the information technology services provider’s stock worth $8,788,000 after buying an additional 910 shares during the last quarter. State of Michigan Retirement System increased its holdings in ServiceNow by 82.2% during the second quarter. State of Michigan Retirement System now owns 78,700 shares of the information technology services provider’s stock worth $31,878,000 after buying an additional 35,500 shares during the last quarter. Finally, Perigon Wealth Management LLC purchased a new stake in ServiceNow during the second quarter worth about $346,000. 92.11% of the stock is currently owned by institutional investors.

ServiceNow stock traded up $7.80 during mid-day trading on Friday, reaching $439.20. The stock had a trading volume of 1,745,876 shares, compared to its average volume of 1,545,994. The company has a market capitalization of $83.76 billion, a price-to-earnings ratio of 119.35, a PEG ratio of 15.19 and a beta of 1.34. The company has a 50-day moving average price of $413.30 and a two-hundred day moving average price of $348.33. ServiceNow Inc has a one year low of $213.99 and a one year high of $454.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.17 and a quick ratio of 1.03.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 29th. The information technology services provider reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $1.03. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. ServiceNow had a net margin of 18.42% and a return on equity of 11.09%. ServiceNow’s revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 EPS. On average, equities research analysts anticipate that ServiceNow Inc will post 1.01 earnings per share for the current fiscal year.

A number of research firms recently issued reports on NOW. Raymond James raised their price objective on shares of ServiceNow from $385.00 to $490.00 and gave the stock a “strong-buy” rating in a report on Thursday. JMP Securities lifted their target price on shares of ServiceNow from $350.00 to $460.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Bank of America lifted their target price on shares of ServiceNow from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Jefferies Financial Group lifted their target price on shares of ServiceNow from $465.00 to $515.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Cowen raised their price objective on shares of ServiceNow from $345.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $433.85.

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,400 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $354.94, for a total transaction of $496,916.00. Following the transaction, the general counsel now owns 5,982 shares in the company, valued at approximately $2,123,251.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chirantan Jitendra Desai sold 1,562 shares of the company’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $425.00, for a total transaction of $663,850.00. Following the transaction, the insider now owns 26,378 shares in the company, valued at approximately $11,210,650. The disclosure for this sale can be found here. Insiders have sold a total of 125,794 shares of company stock worth $48,071,718 in the last 90 days. Company insiders own 1.00% of the company’s stock.

ServiceNow Company Profile

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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