Victory Capital Management Inc. Cuts Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Victory Capital Management Inc. reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 13.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,685 shares of the information technology services provider’s stock after selling 33,369 shares during the quarter. Victory Capital Management Inc.’s holdings in ServiceNow were worth $195,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Quent Capital LLC increased its position in shares of ServiceNow by 4.1% during the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock valued at $587,000 after purchasing an additional 30 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of ServiceNow by 20.8% during the first quarter. Avantax Advisory Services Inc. now owns 4,210 shares of the information technology services provider’s stock worth $3,209,000 after acquiring an additional 724 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of ServiceNow by 5.0% in the 1st quarter. Bleakley Financial Group LLC now owns 4,033 shares of the information technology services provider’s stock worth $3,075,000 after acquiring an additional 193 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of ServiceNow by 5.5% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 200,143 shares of the information technology services provider’s stock valued at $152,589,000 after purchasing an additional 10,351 shares in the last quarter. Finally, New Insight Wealth Advisors bought a new position in shares of ServiceNow during the 1st quarter valued at $226,000. 87.18% of the stock is currently owned by institutional investors.

Insider Activity at ServiceNow

In other news, Director Paul Edward Chamberlain sold 135 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the sale, the director now directly owns 10,767 shares of the company’s stock, valued at $8,850,474. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $822.00, for a total value of $110,970.00. Following the completion of the transaction, the director now owns 10,767 shares of the company’s stock, valued at $8,850,474. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,539 shares of company stock valued at $2,138,333 in the last three months. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NOW. Deutsche Bank Aktiengesellschaft boosted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. JMP Securities increased their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Evercore ISI raised their price target on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Robert W. Baird boosted their price objective on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays increased their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

ServiceNow Stock Up 0.5 %

Shares of NOW traded up $4.86 on Tuesday, reaching $1,040.87. The stock had a trading volume of 324,569 shares, compared to its average volume of 1,275,947. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a 12-month low of $632.25 and a 12-month high of $1,043.99. The firm has a market capitalization of $214.42 billion, a price-to-earnings ratio of 161.26, a price-to-earnings-growth ratio of 5.79 and a beta of 0.98. The company has a 50-day simple moving average of $916.20 and a 200-day simple moving average of $815.82.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating the consensus estimate of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 earnings per share. Sell-side analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

ServiceNow Company 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.