ServiceNow Inc (NYSE:NOW) Position Trimmed by Polaris Greystone Financial Group LLC

Polaris Greystone Financial Group LLC lessened its holdings in shares of ServiceNow Inc (NYSE:NOW) by 1.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 14,085 shares of the information technology services provider’s stock after selling 253 shares during the period. Polaris Greystone Financial Group LLC’s holdings in ServiceNow were worth $3,993,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in ServiceNow during the 1st quarter valued at about $724,000. Dock Street Asset Management Inc. bought a new stake in shares of ServiceNow in the 1st quarter valued at approximately $937,000. Arcadia Investment Management Corp MI grew its stake in shares of ServiceNow by 219.5% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the information technology services provider’s stock valued at $741,000 after buying an additional 1,855 shares in the last quarter. Roman Butler Fullerton & Co. grew its stake in shares of ServiceNow by 4.9% in the 1st quarter. Roman Butler Fullerton & Co. now owns 2,857 shares of the information technology services provider’s stock valued at $704,000 after buying an additional 133 shares in the last quarter. Finally, Glaxis Capital Management LLC bought a new stake in shares of ServiceNow in the 1st quarter valued at approximately $2,075,000. 92.95% of the stock is currently owned by institutional investors.

In other news, Director Frederic B. Luddy sold 1,770 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $288.16, for a total transaction of $510,043.20. Following the completion of the transaction, the director now directly owns 1,213 shares in the company, valued at $349,538.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Patricia L. Wadors sold 1,559 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $263.61, for a total value of $410,967.99. Following the transaction, the insider now owns 3,093 shares of the company’s stock, valued at $815,345.73. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,092 shares of company stock valued at $33,064,052. Corporate insiders own 1.00% of the company’s stock.

Several equities research analysts recently commented on the company. KeyCorp boosted their price target on ServiceNow from $270.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Argus boosted their price target on ServiceNow from $260.00 to $304.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Raymond James boosted their price target on ServiceNow from $340.00 to $342.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Thursday, July 25th. Finally, UBS Group boosted their price target on ServiceNow to $332.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $287.86.

ServiceNow stock traded down $10.93 during trading hours on Monday, reaching $254.93. 151,451 shares of the company were exchanged, compared to its average volume of 1,725,461. The firm has a market capitalization of $48.14 billion, a price-to-earnings ratio of 1,260.42, a price-to-earnings-growth ratio of 22.13 and a beta of 1.30. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average price of $287.12. ServiceNow Inc has a 12 month low of $147.63 and a 12 month high of $303.17.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $833.90 million during the quarter, compared to analysts’ expectations of $831.50 million. ServiceNow had a return on equity of 4.44% and a net margin of 0.09%. The company’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. Equities research analysts forecast that ServiceNow Inc will post 0.43 earnings per share for the current fiscal year.

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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