Lord Abbett & CO. LLC lowered its position in shares of ServiceNow Inc (NYSE:NOW) by 44.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 215,930 shares of the information technology services provider’s stock after selling 175,461 shares during the period. Lord Abbett & CO. LLC owned 0.12% of ServiceNow worth $38,446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NOW. Berkshire Capital Holdings Inc. increased its stake in shares of ServiceNow by 889.5% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 41,460 shares of the information technology services provider’s stock valued at $7,382,000 after purchasing an additional 37,270 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of ServiceNow by 17.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 22,134 shares of the information technology services provider’s stock worth $3,941,000 after acquiring an additional 3,259 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of ServiceNow by 26.6% during the 4th quarter. Advisors Asset Management Inc. now owns 20,609 shares of the information technology services provider’s stock worth $3,669,000 after acquiring an additional 4,325 shares during the last quarter. Roman Butler Fullerton & Co. purchased a new position in shares of ServiceNow during the 4th quarter worth $518,000. Finally, KAMES CAPITAL plc boosted its stake in shares of ServiceNow by 611.7% during the 4th quarter. KAMES CAPITAL plc now owns 360,530 shares of the information technology services provider’s stock worth $64,138,000 after acquiring an additional 309,870 shares during the last quarter. Institutional investors own 97.07% of the company’s stock.

In other ServiceNow news, Director Frederic B. Luddy sold 22,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $238.46, for a total value of $5,246,120.00. Following the completion of the transaction, the director now owns 1,770 shares in the company, valued at approximately $422,074.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Schneider sold 2,373 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $240.17, for a total value of $569,923.41. Following the completion of the transaction, the insider now owns 57,605 shares of the company’s stock, valued at approximately $13,834,992.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 264,756 shares of company stock valued at $57,018,261. Corporate insiders own 1.60% of the company’s stock.

A number of brokerages have issued reports on NOW. Mizuho began coverage on shares of ServiceNow in a report on Wednesday. They issued a “buy” rating and a $265.00 price target on the stock. ValuEngine upgraded shares of ServiceNow from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Goldman Sachs Group lifted their price target on shares of ServiceNow from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, February 25th. They noted that the move was a valuation call. UBS Group boosted their price objective on shares of ServiceNow from $230.00 to $271.00 and gave the company a “hold” rating in a research report on Monday, February 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of ServiceNow to $245.00 and gave the company an “overweight” rating in a research report on Thursday, January 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $227.75.

Shares of NYSE NOW opened at $241.59 on Friday. ServiceNow Inc has a one year low of $147.63 and a one year high of $245.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.16. The firm has a market cap of $43.79 billion, a price-to-earnings ratio of 1,207.95, a P/E/G ratio of 24.46 and a beta of 1.44.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 30th. The information technology services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.14. ServiceNow had a negative net margin of 1.02% and a positive return on equity of 3.95%. The firm had revenue of $715.44 million during the quarter, compared to the consensus estimate of $717.73 million. During the same quarter in the previous year, the company posted $0.37 EPS. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. Analysts forecast that ServiceNow Inc will post 0.35 EPS for the current year.

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ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers service management solutions for customer service, human resources, security operations, and other enterprise departments. It operates ServiceNow platform that provides workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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