Sei Investments Co. Decreases Position in ServiceNow, Inc. (NYSE:NOW)

Sei Investments Co. decreased its stake in ServiceNow, Inc. (NYSE:NOW) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 376,537 shares of the information technology services provider’s stock after selling 7,493 shares during the period. Sei Investments Co. owned approximately 0.18% of ServiceNow worth $296,214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NOW. Swedbank AB purchased a new stake in shares of ServiceNow in the first quarter worth about $897,908,000. Global Assets Advisory LLC purchased a new stake in shares of ServiceNow in the first quarter worth about $403,034,000. Vanguard Group Inc. boosted its position in shares of ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after buying an additional 331,797 shares during the period. AustralianSuper Pty Ltd purchased a new stake in shares of ServiceNow in the second quarter worth about $218,786,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of ServiceNow by 18.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after acquiring an additional 271,153 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their price target on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. JMP Securities boosted their price target on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets boosted their price target on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $855.44.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $937.36 on Friday. The stock has a fifty day moving average price of $822.56 and a two-hundred day moving average price of $771.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $192.16 billion, a P/E ratio of 100.25, a PEG ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $940.12.

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

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the sale, the general counsel now directly owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Company 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.