ServiceNow, Inc. (NYSE:NOW) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 8.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,459 shares of the information technology services provider’s stock after selling 409 shares during the period. E Fund Management Co. Ltd.’s holdings in ServiceNow were worth $3,508,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new stake in ServiceNow in the 1st quarter valued at about $25,000. Versant Capital Management Inc raised its position in ServiceNow by 466.7% in the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. EntryPoint Capital LLC raised its position in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow in the 4th quarter valued at about $29,000. Finally, Ridgewood Investments LLC acquired a new stake in ServiceNow in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NOW. TD Cowen increased their price target on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research report on Monday, September 9th. Wells Fargo & Company raised their target price on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. KeyCorp cut their target price on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. raised their target price on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $855.44.

Insider Activity at ServiceNow

In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Trading Down 0.6 %

Shares of NOW stock opened at $886.77 on Wednesday. The business’s 50 day moving average is $812.61 and its two-hundred day moving average is $768.20. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $899.61. The company has a market capitalization of $181.79 billion, a P/E ratio of 94.84, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current year.

ServiceNow Profile

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.