ServiceNow, Inc. (NYSE:NOW) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 33.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,671 shares of the information technology services provider's stock after selling 17,222 shares during the quarter. Quadrature Capital Ltd's holdings in ServiceNow were worth $31,010,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Truvestments Capital LLC purchased a new position in ServiceNow in the 3rd quarter worth approximately $30,000. DT Investment Partners LLC boosted its position in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after purchasing an additional 17 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of ServiceNow during the 2nd quarter valued at $32,000. Oakworth Capital Inc. raised its holdings in shares of ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock worth $39,000 after acquiring an additional 14 shares in the last quarter. Finally, Semmax Financial Advisors Inc. bought a new stake in ServiceNow in the second quarter worth about $39,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other news, Director Anita M. Sands sold 2,229 shares of ServiceNow stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,629 shares of company stock worth $20,861,626. Insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on NOW. Wells Fargo & Company lifted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a research note on Thursday. KeyCorp upped their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Morgan Stanley cut ServiceNow from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $900.00 to $960.00 in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their target price on shares of ServiceNow from $820.00 to $950.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Finally, Truist Financial boosted their price objective on ServiceNow from $780.00 to $900.00 and gave the company a "hold" rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,002.64.

ServiceNow Stock Down 0.1 %

NYSE:NOW traded down $1.39 during trading hours on Thursday, hitting $1,121.74. 672,824 shares of the stock traded hands, compared to its average volume of 1,280,734. The firm has a 50 day moving average price of $972.88 and a 200 day moving average price of $853.49. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,130.60. The firm has a market cap of $231.08 billion, a price-to-earnings ratio of 173.74, a PEG ratio of 6.07 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business's quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 earnings per share. Equities research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

ServiceNow 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.