Sumitomo Mitsui Trust Holdings Inc. Trims Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 547,070 shares of the information technology services provider’s stock after selling 506 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of ServiceNow worth $417,086,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Argonautica Private Wealth Management Inc. boosted its stake in ServiceNow by 1.0% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock worth $972,000 after buying an additional 13 shares during the last quarter. Wealth Management Partners LLC grew its holdings in shares of ServiceNow by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $375,000 after purchasing an additional 14 shares during the period. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 14 shares during the period. Optas LLC grew its holdings in shares of ServiceNow by 1.7% in the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after purchasing an additional 14 shares during the period. Finally, Trust Co. of Vermont grew its holdings in shares of ServiceNow by 8.6% in the third quarter. Trust Co. of Vermont now owns 190 shares of the information technology services provider’s stock valued at $106,000 after purchasing an additional 15 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Paul John Smith sold 190 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total value of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other ServiceNow news, insider Paul John Smith sold 190 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total transaction of $136,568.20. Following the transaction, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the transaction, the insider now owns 15,892 shares in the company, valued at $11,124,400. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,530 shares of company stock valued at $3,997,012. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NOW. JMP Securities reissued a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a report on Tuesday, May 7th. UBS Group decreased their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Needham & Company LLC reissued a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research report on Tuesday, June 18th. Finally, Citigroup raised their price target on ServiceNow from $896.00 to $906.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $813.28.

ServiceNow Stock Performance

NOW traded up $0.88 on Wednesday, reaching $794.99. The company had a trading volume of 74,366 shares, compared to its average volume of 1,271,027. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $815.32. The stock has a market capitalization of $162.97 billion, a PE ratio of 84.93, a P/E/G ratio of 4.93 and a beta of 0.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $727.88 and a 200-day moving average price of $742.00.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. As a group, research analysts forecast that ServiceNow, Inc. will post 6.5 EPS for the current fiscal 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.