Marshall Wace LLP Reduces Stake in ServiceNow, Inc. (NYSE:NOW)

Marshall Wace LLP reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 38.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,700 shares of the information technology services provider’s stock after selling 28,051 shares during the quarter. Marshall Wace LLP’s holdings in ServiceNow were worth $35,164,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOW. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow in the 1st quarter worth approximately $25,000. Versant Capital Management Inc raised its position in ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the last quarter. EntryPoint Capital LLC grew its stake in ServiceNow by 3,900.0% in the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 39 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of ServiceNow in the fourth quarter valued at approximately $29,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of ServiceNow in the second quarter valued at approximately $32,000. 87.18% of shares are owned by institutional investors and hedge funds.

Indoor activity

In other news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The transaction was disclosed in a filing with the SEC, which is accessible via this link. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Also, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were 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 approximately $3,319,372.48. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 over the last three months. 0.25% of shares are currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of NOW stock opened at $890.03 on Thursday. ServiceNow, Inc. it has a 52-week low of $527.24 and a 52-week high of $945.46. The company has a quick ratio of 1.12, a current ratio of 1.12, and a debt-to-equity ratio of 0.17. The company has a market cap of $182.46 billion, a PE ratio of 95.19, a P/E/G ratio of 5.55 and a beta of 0.98. The company has a 50-day simple moving average of $828.97 and a 200-day simple moving average of $773.93.

ServiceNow (NYSE:NOW – Get Your Free Report ) last posted its earnings results 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. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the firm posted EPS of $0.77. The company’s revenue for the quarter was up 22.2% year-over-year. Equities research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Analyst upgrades and downgrades

A number of brokerages have recently issued reports on NOW. Guggenheim reissued a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a research report on Monday, July 8th. Stifel Nicolaus upped their target price on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Piper Sandler boosted their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th . One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company. The company has a consensus rating of “Moderate Buy” and a consensus price target of $855.44, according to MarketBeat.com.

Check out our latest analysis on NOW

ServiceNow profile

(Free Report)

ServiceNow, Inc provides end-to-end intelligent workflow automation platform solutions for digital businesses in North America, Europe, 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.

See Also

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