Dupont Capital Management Corp Cuts Stake in ServiceNow, Inc. (NYSE:NOW)

Dupont Capital Management Corp decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,500 shares of the information technology services provider's stock after selling 2,068 shares during the period. Dupont Capital Management Corp's holdings in ServiceNow were worth $11,180,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. M&G Plc bought a new position in shares of ServiceNow during the first quarter worth about $11,030,000. AXA S.A. raised its holdings in shares of ServiceNow by 1.1% in the 2nd quarter. AXA S.A. now owns 387,344 shares of the information technology services provider's stock valued at $304,712,000 after purchasing an additional 4,271 shares during the period. HWG Holdings LP bought a new position in ServiceNow during the second quarter worth about $2,679,000. New Mexico Educational Retirement Board raised its stake in ServiceNow by 9.4% in the first quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider's stock valued at $8,882,000 after buying an additional 1,000 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of ServiceNow by 375.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider's stock valued at $1,041,000 after buying an additional 1,078 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

ServiceNow stock traded down $5.42 during midday trading on Wednesday, reaching $912.53. 66,003 shares of the stock were exchanged, compared to its average volume of 1,266,521. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $949.59. 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 $187.07 billion, a PE ratio of 98.17, a PEG ratio of 5.63 and a beta of 0.99. The company's fifty day moving average is $878.83 and its 200-day moving average is $794.29.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.61 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The firm's revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $900.00 price target on shares of ServiceNow in a report on Monday, September 9th. Oppenheimer boosted their price objective on ServiceNow from $825.00 to $1,020.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on ServiceNow from $780.00 to $820.00 and gave the company an "overweight" rating in a research note on Thursday, July 25th. Morgan Stanley cut shares of ServiceNow from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $900.00 to $960.00 in a research report on Monday. Finally, Royal Bank of Canada lifted their price objective on shares of ServiceNow from $850.00 to $880.00 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, three have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $923.00.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 4,019 shares of the company's stock, valued at approximately $3,319,372.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares of the company's stock, valued at $3,319,372.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,267 shares of company stock worth $5,935,447 over the last three months. Company insiders own 0.25% of the company's stock.

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.