NuWave Investment Management LLC lowered its stake in ServiceNow Inc (NYSE:NOW) by 62.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 728 shares of the information technology services provider’s stock after selling 1,191 shares during the quarter. NuWave Investment Management LLC’s holdings in ServiceNow were worth $200,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of NOW. Financial Gravity Wealth Inc. acquired a new stake in shares of ServiceNow in the first quarter valued at about $25,000. Sandy Spring Bank boosted its holdings in ServiceNow by 118.0% in the first quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Spectrum Management Group Inc. purchased a new position in ServiceNow in the first quarter valued at about $37,000. Knuff & Co LLC purchased a new position in ServiceNow in the first quarter valued at about $37,000. Finally, West Oak Capital LLC boosted its holdings in ServiceNow by 120.0% in the first quarter. West Oak Capital LLC now owns 165 shares of the information technology services provider’s stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

NYSE:NOW opened at $283.56 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.88. The business’s 50 day moving average price is $286.68. ServiceNow Inc has a 52 week low of $147.63 and a 52 week high of $303.17. The company has a market cap of $53.68 billion, a P/E ratio of 1,417.80, a PEG ratio of 21.92 and a beta of 1.33.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $833.90 million for the quarter, compared to analysts’ expectations of $831.50 million. ServiceNow had a return on equity of 4.44% and a net margin of 0.09%. The business’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Analysts anticipate that ServiceNow Inc will post 0.47 earnings per share for the current fiscal year.

A number of brokerages recently commented on NOW. Zacks Investment Research downgraded German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Cleveland Research began coverage on ServiceNow in a report on Monday, June 17th. They issued a “buy” rating for the company. JMP Securities increased their price target on Facebook from $220.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. KeyCorp downgraded Masco from an “overweight” rating to a “sector weight” rating in a report on Thursday, July 25th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $760.00 price target (up previously from $755.00) on shares of Chipotle Mexican Grill in a report on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $287.86.

In other news, insider Michael Scarpelli sold 25,899 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $278.41, for a total transaction of $7,210,540.59. Following the sale, the insider now directly owns 37,071 shares in the company, valued at approximately $10,320,937.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anita M. Sands sold 1,770 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $268.60, for a total value of $475,422.00. Following the sale, the director now owns 10,784 shares in the company, valued at $2,896,582.40. The disclosure for this sale can be found here. Insiders have sold a total of 117,322 shares of company stock worth $32,554,009 over the last quarter. Insiders own 1.00% of the company’s stock.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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