Wolff Wiese Magana LLC Sells 59 Shares of ServiceNow, Inc. (NYSE:NOW)

Wolff Wiese Magana LLC trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOWGet Rating) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,198 shares of the information technology services provider’s stock after selling 59 shares during the quarter. Wolff Wiese Magana LLC’s holdings in ServiceNow were worth $570,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in ServiceNow by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 16,295,607 shares of the information technology services provider’s stock worth $9,074,862,000 after purchasing an additional 306,106 shares during the last quarter. BlackRock Inc. raised its position in ServiceNow by 0.4% in the 4th quarter. BlackRock Inc. now owns 16,190,700 shares of the information technology services provider’s stock worth $10,509,544,000 after purchasing an additional 65,623 shares during the last quarter. State Street Corp raised its position in ServiceNow by 3.2% in the 4th quarter. State Street Corp now owns 7,870,165 shares of the information technology services provider’s stock worth $5,108,603,000 after purchasing an additional 241,296 shares during the last quarter. Polen Capital Management LLC raised its position in ServiceNow by 2.1% in the 1st quarter. Polen Capital Management LLC now owns 3,219,600 shares of the information technology services provider’s stock worth $1,792,963,000 after purchasing an additional 67,385 shares during the last quarter. Finally, Capital International Investors raised its position in ServiceNow by 18.1% in the 1st quarter. Capital International Investors now owns 3,207,748 shares of the information technology services provider’s stock worth $1,786,783,000 after purchasing an additional 491,835 shares during the last quarter. 87.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on shares of ServiceNow from $600.00 to $550.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. Citigroup dropped their price objective on shares of ServiceNow from $600.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Guggenheim assumed coverage on shares of ServiceNow in a research report on Friday, August 12th. They set a “neutral” rating and a $510.00 target price for the company. UBS Group dropped their target price on shares of ServiceNow from $540.00 to $515.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Finally, Barclays dropped their target price on shares of ServiceNow from $560.00 to $495.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $593.29.

ServiceNow Stock Down 2.6 %

Shares of ServiceNow stock traded down $10.10 during trading hours on Friday, reaching $376.87. 84,938 shares of the company’s stock were exchanged, compared to its average volume of 1,278,962. The company has a 50 day moving average of $454.93 and a two-hundred day moving average of $479.32. ServiceNow, Inc. has a fifty-two week low of $386.70 and a fifty-two week high of $707.60. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a market cap of $76.13 billion, a P/E ratio of 413.97, a P/E/G ratio of 8.17 and a beta of 0.94.

ServiceNow (NYSE:NOWGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The information technology services provider reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. ServiceNow had a net margin of 2.79% and a return on equity of 7.22%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the business posted $0.38 EPS. The company’s quarterly revenue was up 24.3% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow, Inc. will post 1.72 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Nicholas Tzitzon sold 2,822 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $438.75, for a total value of $1,238,152.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Nicholas Tzitzon sold 2,822 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $438.75, for a total value of $1,238,152.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 2,666 shares of the firm’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $422.80, for a total transaction of $1,127,184.80. Following the completion of the sale, the general counsel now owns 6,627 shares of the company’s stock, valued at $2,801,895.60. The disclosure for this sale can be found here. Insiders sold a total of 32,922 shares of company stock worth $15,146,557 in the last three months. Insiders own 0.28% of the company’s stock.

ServiceNow Company Profile

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ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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