ServiceNow, Inc. $NOW Shares Sold by Hyperion Asset Management Ltd

Hyperion Asset Management Ltd lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 7.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,293 shares of the information technology services provider’s stock after selling 22,228 shares during the quarter. ServiceNow makes up approximately 9.3% of Hyperion Asset Management Ltd’s holdings, making the stock its 3rd biggest holding. Hyperion Asset Management Ltd’s holdings in ServiceNow were worth $298,444,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow during the 2nd quarter worth about $30,000. Bogart Wealth LLC grew its holdings in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in ServiceNow during the 1st quarter worth about $26,000. Heck Capital Advisors LLC bought a new stake in ServiceNow during the 4th quarter worth about $37,000. Finally, WASHINGTON TRUST Co grew its holdings in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $948.49 on Tuesday. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $922.33 and its 200-day moving average is $924.52. The company has a market capitalization of $197.29 billion, a PE ratio of 119.46, a price-to-earnings-growth ratio of 4.33 and a beta of 0.91.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the business earned $3.13 earnings per share. The firm’s revenue was up 22.4% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Gina Mastantuono sold 1,762 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the transaction, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock valued at $17,049,775 in the last ninety days. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NOW. Oppenheimer reissued an “outperform” rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. FBN Securities raised shares of ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. Wall Street Zen lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Guggenheim reissued a “sell” rating and set a $724.00 price objective on shares of ServiceNow in a research note on Thursday, July 17th. Finally, Bank of America lifted their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,115.20.

About ServiceNow

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.