Fisher Asset Management LLC Trims Stake in ServiceNow, Inc. (NOW)

Fisher Asset Management LLC reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 16.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,713 shares of the information technology services provider’s stock after selling 3,600 shares during the quarter. Fisher Asset Management LLC’s holdings in ServiceNow were worth $2,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Shell Asset Management Co. boosted its stake in ServiceNow by 88.5% during the third quarter. Shell Asset Management Co. now owns 20,302 shares of the information technology services provider’s stock worth $1,193,000 after buying an additional 9,531 shares during the period. Verde Servicos Internacionais S.A. boosted its stake in ServiceNow by 75.6% during the third quarter. Verde Servicos Internacionais S.A. now owns 10,263 shares of the information technology services provider’s stock worth $1,206,000 after buying an additional 4,419 shares during the period. Ardsley Advisory Partners lifted its position in shares of ServiceNow by 28.0% during the second quarter. Ardsley Advisory Partners now owns 80,000 shares of the information technology services provider’s stock worth $8,478,000 after purchasing an additional 17,500 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of ServiceNow by 12.3% during the second quarter. Toronto Dominion Bank now owns 2,040 shares of the information technology services provider’s stock worth $216,000 after purchasing an additional 224 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of ServiceNow during the second quarter worth $262,000. 98.78% of the stock is owned by institutional investors and hedge funds.

ServiceNow, Inc. (NYSE:NOW) traded down $0.95 during trading hours on Tuesday, reaching $125.03. The company had a trading volume of 893,700 shares, compared to its average volume of 1,600,128. ServiceNow, Inc. has a 12-month low of $72.80 and a 12-month high of $129.56. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.10.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 25th. The information technology services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.06. ServiceNow had a negative return on equity of 22.11% and a negative net margin of 8.68%. The company had revenue of $498.20 million for the quarter, compared to the consensus estimate of $491.62 million. During the same period last year, the business posted $0.23 EPS. The company’s revenue was up 39.3% on a year-over-year basis. research analysts expect that ServiceNow, Inc. will post -0.35 EPS for the current fiscal year.

Several analysts have recently weighed in on NOW shares. Mizuho reiterated a “buy” rating on shares of ServiceNow in a research report on Monday, October 16th. Canaccord Genuity restated a “buy” rating and issued a $150.00 price objective (up from $130.00) on shares of ServiceNow in a report on Thursday, October 26th. Guggenheim restated a “buy” rating and issued a $120.00 price objective (up from $108.00) on shares of ServiceNow in a report on Thursday, July 27th. Piper Jaffray Companies reiterated a “buy” rating and issued a $150.00 target price on shares of ServiceNow in a report on Monday, November 6th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $120.00 target price on shares of ServiceNow in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. ServiceNow has a consensus rating of “Buy” and an average target price of $130.50.

In related news, insider Michael Scarpelli sold 75,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $107.68, for a total value of $8,076,000.00. Following the completion of the transaction, the insider now directly owns 252,368 shares in the company, valued at $27,174,986.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO David Schneider sold 16,349 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $124.21, for a total value of $2,030,709.29. Following the completion of the transaction, the executive now owns 67,185 shares of the company’s stock, valued at $8,345,048.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,038,849 shares of company stock valued at $121,717,884. 3.30% of the stock is currently owned by insiders.

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About ServiceNow

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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