ServiceNow, Inc. (NYSE:NOW) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 16.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,437 shares of the information technology services provider’s stock after selling 26,468 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of ServiceNow worth $66,994,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Balentine LLC grew its holdings in ServiceNow by 3.0% during the 4th quarter. Balentine LLC now owns 622 shares of the information technology services provider’s stock valued at $342,000 after buying an additional 18 shares during the last quarter. Paul John Balson boosted its holdings in shares of ServiceNow by 1.5% during the fourth quarter. Paul John Balson now owns 1,258 shares of the information technology services provider’s stock worth $692,000 after purchasing an additional 18 shares during the last quarter. Symmetry Partners LLC boosted its holdings in shares of ServiceNow by 1.7% during the fourth quarter. Symmetry Partners LLC now owns 1,152 shares of the information technology services provider’s stock worth $634,000 after purchasing an additional 19 shares during the last quarter. Barrett Asset Management LLC boosted its holdings in shares of ServiceNow by 1.2% during the fourth quarter. Barrett Asset Management LLC now owns 1,726 shares of the information technology services provider’s stock worth $950,000 after purchasing an additional 21 shares during the last quarter. Finally, Syntal Capital Partners LLC boosted its holdings in shares of ServiceNow by 0.6% during the fourth quarter. Syntal Capital Partners LLC now owns 3,344 shares of the information technology services provider’s stock worth $1,840,000 after purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 85.69% of the company’s stock.

In other news, Director Frederic B. Luddy sold 16,500 shares of the stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $464.58, for a total value of $7,665,570.00. Following the completion of the sale, the director now owns 1,518 shares in the company, valued at $705,232.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Briggs sold 546 shares of the stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $508.00, for a total value of $277,368.00. Following the completion of the sale, the director now owns 932 shares of the company’s stock, valued at approximately $473,456. The disclosure for this sale can be found here. Insiders sold 33,654 shares of company stock valued at $16,420,885 in the last 90 days. Corporate insiders own 0.72% of the company’s stock.

NOW opened at $489.13 on Friday. The firm has a fifty day simple moving average of $498.74. The stock has a market capitalization of $96.58 billion, a price-to-earnings ratio of 652.17, a P/E/G ratio of 13.80 and a beta of 0.93. ServiceNow, Inc. has a 12-month low of $372.87 and a 12-month high of $598.37. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.23 and a quick ratio of 1.23.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 28th. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.17. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. ServiceNow had a return on equity of 9.32% and a net margin of 3.15%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. On average, equities analysts expect that ServiceNow, Inc. will post 1.2 earnings per share for the current year.

Several equities research analysts have recently issued reports on the company. BMO Capital Markets decreased their price objective on ServiceNow from $590.00 to $575.00 and set an “outperform” rating on the stock in a report on Thursday, April 29th. Zacks Investment Research raised ServiceNow from a “sell” rating to a “hold” rating and set a $560.00 price target for the company in a research report on Friday, February 26th. Needham & Company LLC lowered their price target on ServiceNow from $595.00 to $591.00 and set a “buy” rating for the company in a research report on Thursday, April 29th. Mizuho lowered their price target on ServiceNow from $610.00 to $590.00 and set a “buy” rating for the company in a research report on Tuesday, May 11th. Finally, Robert W. Baird reissued a “hold” rating on shares of ServiceNow in a research report on Monday, May 3rd. Three research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $603.83.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform that offers workflow automation, artificial intelligence, machine learning, 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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