Hartford Financial Management Inc. lowered its position in shares of ServiceNow Inc (NYSE:NOW) by 12.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,259 shares of the information technology services provider’s stock after selling 171 shares during the period. Hartford Financial Management Inc.’s holdings in ServiceNow were worth $346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOW. Lyell Wealth Management LP lifted its holdings in shares of ServiceNow by 46.4% during the second quarter. Lyell Wealth Management LP now owns 14,659 shares of the information technology services provider’s stock worth $4,025,000 after buying an additional 4,648 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of ServiceNow by 18.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 53,649 shares of the information technology services provider’s stock valued at $15,085,000 after purchasing an additional 8,478 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in shares of ServiceNow during the second quarter valued at approximately $421,000. Chesapeake Wealth Management lifted its holdings in shares of ServiceNow by 16.2% during the second quarter. Chesapeake Wealth Management now owns 4,018 shares of the information technology services provider’s stock valued at $1,103,000 after purchasing an additional 560 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in shares of ServiceNow by 9.3% during the second quarter. Advisory Services Network LLC now owns 1,151 shares of the information technology services provider’s stock valued at $316,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 93.66% of the company’s stock.

ServiceNow stock opened at $262.19 on Wednesday. The firm’s 50 day moving average price is $283.28. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $48.28 billion, a PE ratio of 1,310.95, a price-to-earnings-growth ratio of 21.96 and a beta of 1.30. ServiceNow Inc has a fifty-two week low of $147.63 and a fifty-two week high of $303.17.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. ServiceNow had a return on equity of 4.29% and a net margin of 0.09%. The business had revenue of $833.90 million for the quarter, compared to analysts’ expectations of $831.50 million. During the same period in the previous year, the firm posted $0.49 EPS. The business’s revenue was up 32.1% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow Inc will post 0.43 EPS for the current year.

In other news, Director Anita M. Sands sold 1,770 shares of ServiceNow stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $268.60, for a total transaction of $475,422.00. Following the completion of the transaction, the director now directly owns 10,784 shares in the company, valued at approximately $2,896,582.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Scarpelli sold 25,899 shares of ServiceNow stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $278.41, for a total value of $7,210,540.59. Following the transaction, the insider now owns 37,071 shares of the company’s stock, valued at $10,320,937.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,474 shares of company stock worth $26,822,916. 1.00% of the stock is owned by insiders.

Several research firms have recently issued reports on NOW. Raymond James lifted their target price on shares of ServiceNow from $340.00 to $342.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Bank of America reiterated a “buy” rating and set a $330.00 target price (up from $300.00) on shares of ServiceNow in a report on Thursday, July 25th. Northland Securities reiterated a “buy” rating and set a $280.00 target price on shares of ServiceNow in a report on Thursday, May 2nd. Barclays lifted their target price on shares of ServiceNow from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, Credit Suisse Group boosted their price objective on shares of ServiceNow from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $287.86.

About ServiceNow

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

Featured Article: What is a CD ladder?

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow Inc (NYSE:NOW).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.