ServiceNow, Inc. (NYSE:NOW) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,003,924 shares of the information technology services provider's stock after selling 140,593 shares during the quarter. ServiceNow comprises 1.1% of Jennison Associates LLC's holdings, making the stock its 21st largest holding. Jennison Associates LLC owned 0.97% of ServiceNow worth $1,792,290,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NOW. Catalyst Financial Partners LLC raised its position in ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider's stock worth $1,025,000 after acquiring an additional 11 shares during the period. First Affirmative Financial Network lifted its position in shares of ServiceNow by 1.4% during the third quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider's stock worth $801,000 after acquiring an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of ServiceNow by 14.6% in the third quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider's stock worth $84,000 after acquiring an additional 12 shares during the period. BluePointe Capital Management LLC grew its position in shares of ServiceNow by 0.6% in the third quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider's stock valued at $1,801,000 after purchasing an additional 12 shares in the last quarter. Finally, Morling Financial Advisors LLC lifted its holdings in ServiceNow by 2.5% during the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider's stock worth $415,000 after purchasing an additional 13 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $2.88 during midday trading on Wednesday, hitting $1,019.22. The company had a trading volume of 603,508 shares, compared to its average volume of 1,282,476. The stock has a market cap of $209.96 billion, a price-to-earnings ratio of 158.97, a PEG ratio of 5.80 and a beta of 0.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $938.70 and a 200 day simple moving average of $829.46. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,061.66.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the business posted $1.21 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jacqueline P. Canney sold 353 shares of the business's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the transaction, the director now owns 42,920 shares in the company, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,373 shares of company stock valued at $7,139,335 in the last quarter. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NOW shares. Citigroup upped their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Barclays upped their price objective on ServiceNow from $980.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Sanford C. Bernstein boosted their price objective on shares of ServiceNow from $906.00 to $913.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. BMO Capital Markets boosted their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an "outperform" rating in a research note on Thursday, October 10th. Finally, Morgan Stanley downgraded ServiceNow from an "overweight" rating to an "equal weight" rating and boosted their price objective for the company from $900.00 to $960.00 in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and a consensus target price of $986.39.

ServiceNow Company 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.