Conning Inc. Sells 53 Shares of ServiceNow, Inc. $NOW

Conning Inc. lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,199 shares of the information technology services provider’s stock after selling 53 shares during the quarter. Conning Inc.’s holdings in ServiceNow were worth $1,233,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NOW. Brighton Jones LLC increased its holdings in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after buying an additional 30 shares during the last quarter. GAMMA Investing LLC increased its holdings in ServiceNow by 10.0% during the first quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider’s stock worth $2,689,000 after buying an additional 308 shares during the last quarter. CX Institutional increased its holdings in ServiceNow by 5.8% during the first quarter. CX Institutional now owns 1,149 shares of the information technology services provider’s stock worth $915,000 after buying an additional 63 shares during the last quarter. Simon Quick Advisors LLC increased its holdings in ServiceNow by 18.0% during the first quarter. Simon Quick Advisors LLC now owns 1,504 shares of the information technology services provider’s stock worth $1,197,000 after buying an additional 229 shares during the last quarter. Finally, Thomasville National Bank increased its holdings in ServiceNow by 3.0% during the first quarter. Thomasville National Bank now owns 15,952 shares of the information technology services provider’s stock worth $12,700,000 after buying an additional 472 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the transaction, the insider owned 3,000 shares of the company’s stock, valued at $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 1,562 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares of the company’s stock, valued at $2,622,744.15. This represents a 34.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock valued at $16,798,825 over the last three months. Insiders own 0.38% of the company’s stock.

ServiceNow Stock Down 3.2%

NOW stock opened at $888.63 on Friday. The stock has a market capitalization of $184.84 billion, a P/E ratio of 111.92, a price-to-earnings-growth ratio of 4.13 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The firm has a 50-day moving average price of $909.21 and a 200-day moving average price of $931.62.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.13 earnings per share. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analysts Set New Price Targets

NOW has been the topic of a number of recent analyst reports. UBS Group lowered their target price on shares of ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating on the stock in a report on Thursday, July 24th. Needham & Company LLC upped their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Bank of America upped their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Barclays set a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,122.20.

ServiceNow 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.