Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its position in ServiceNow, Inc. (NYSE:NOW) by 11.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,814 shares of the information technology services provider’s stock after selling 2,921 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in ServiceNow were worth $2,312,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Cornerstone Advisors Inc. raised its stake in ServiceNow by 29.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the information technology services provider’s stock worth $115,000 after buying an additional 245 shares during the last quarter. Barrett Asset Management LLC acquired a new stake in ServiceNow during the second quarter worth $117,000. Crow Point Partners LLC raised its stake in ServiceNow by 8.8% in the second quarter. Crow Point Partners LLC now owns 1,320 shares of the information technology services provider’s stock worth $140,000 after buying an additional 107 shares during the last quarter. Global X Management Co. LLC raised its stake in ServiceNow by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,407 shares of the information technology services provider’s stock worth $123,000 after buying an additional 330 shares during the last quarter. Finally, Hartford Financial Management Inc. acquired a new stake in ServiceNow during the first quarter worth $125,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Shares of ServiceNow, Inc. (NYSE NOW) opened at 107.90 on Tuesday. The firm’s market cap is $18.42 billion. ServiceNow, Inc. has a one year low of $71.25 and a one year high of $115.85. The firm has a 50-day moving average price of $108.30 and a 200 day moving average price of $97.34.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The company had revenue of $471.70 million for the quarter, compared to the consensus estimate of $462.11 million. During the same quarter in the prior year, the business earned $0.15 EPS. ServiceNow’s revenue was up 38.2% on a year-over-year basis. On average, analysts forecast that ServiceNow, Inc. will post $1.17 earnings per share for the current fiscal year.

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A number of research firms have weighed in on NOW. UBS AG reiterated a “buy” rating and issued a $110.00 target price (up previously from $101.00) on shares of ServiceNow in a research note on Friday, April 28th. Canaccord Genuity reiterated a “buy” rating and issued a $130.00 target price (up previously from $110.00) on shares of ServiceNow in a research note on Thursday, July 27th. Barclays PLC increased their target price on ServiceNow from $120.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. BidaskClub upgraded ServiceNow from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 2nd. Finally, Raymond James Financial, Inc. increased their target price on ServiceNow from $110.00 to $126.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 27th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the company’s stock. ServiceNow has a consensus rating of “Buy” and an average price target of $115.96.

In other news, Director Frank Slootman sold 150,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $104.09, for a total transaction of $15,613,500.00. Following the completion of the transaction, the director now directly owns 356,287 shares of the company’s stock, valued at approximately $37,085,913.83. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO David Schneider sold 6,430 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $99.50, for a total value of $639,785.00. Following the transaction, the executive now directly owns 33,466 shares of the company’s stock, valued at $3,329,867. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 760,934 shares of company stock worth $82,206,721. 3.30% of the stock is owned by company insiders.

ServiceNow Company Profile

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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