Versor Investments LP Sells 1,075 Shares of ServiceNow, Inc. (NYSE:NOW)

Versor Investments LP trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 78.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 300 shares of the information technology services provider's stock after selling 1,075 shares during the quarter. Versor Investments LP's holdings in ServiceNow were worth $268,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. International Assets Investment Management LLC raised its position in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider's stock valued at $1,059,912,000 after buying an additional 1,183,739 shares in the last quarter. Swedbank AB bought a new stake in shares of ServiceNow in the first quarter worth $897,908,000. AustralianSuper Pty Ltd acquired a new stake in shares of ServiceNow in the second quarter valued at about $218,786,000. Canada Pension Plan Investment Board increased its position in ServiceNow by 59.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 635,919 shares of the information technology services provider's stock valued at $500,258,000 after purchasing an additional 237,086 shares during the period. Finally, abrdn plc raised its stake in ServiceNow by 110.2% during the third quarter. abrdn plc now owns 442,382 shares of the information technology services provider's stock worth $392,477,000 after buying an additional 231,900 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Sanford C. Bernstein boosted their price target on ServiceNow from $906.00 to $913.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Citigroup raised their target price on ServiceNow from $1,068.00 to $1,071.00 and gave the company a "buy" rating in a report on Friday, October 25th. Truist Financial upped their price objective on shares of ServiceNow from $780.00 to $900.00 and gave the stock a "hold" rating in a research report on Wednesday, October 23rd. Needham & Company LLC lifted their target price on ServiceNow from $900.00 to $1,075.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Finally, Piper Sandler raised their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $974.04.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction dated 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 directly owns 4,019 shares in the company, valued at $3,319,372.48. This represents a 2.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. This trade represents a 33.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,325 shares of company stock valued at $5,024,928 over the last quarter. 0.25% of the stock is owned by corporate insiders.

ServiceNow Price Performance

Shares of ServiceNow stock traded down $28.41 on Friday, hitting $1,011.39. 1,498,472 shares of the company traded hands, compared to its average volume of 1,366,353. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,061.66. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $208.35 billion, a P/E ratio of 157.29, a P/E/G ratio of 5.80 and a beta of 0.98. The firm's 50-day simple moving average is $932.47 and its 200 day simple moving average is $824.15.

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

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.