Dupont Capital Management Corp Sells 5,488 Shares of ServiceNow Inc (NYSE:NOW)

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Dupont Capital Management Corp lessened its holdings in ServiceNow Inc (NYSE:NOW) by 77.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,564 shares of the information technology services provider’s stock after selling 5,488 shares during the quarter. Dupont Capital Management Corp’s holdings in ServiceNow were worth $634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Gulf International Bank UK Ltd boosted its stake in shares of ServiceNow by 0.8% in the 2nd quarter. Gulf International Bank UK Ltd now owns 45,738 shares of the information technology services provider’s stock valued at $18,526,000 after purchasing an additional 370 shares during the last quarter. NEXT Financial Group Inc boosted its stake in ServiceNow by 26.3% during the 2nd quarter. NEXT Financial Group Inc now owns 2,744 shares of the information technology services provider’s stock worth $1,111,000 after acquiring an additional 572 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its stake in ServiceNow by 67,900.0% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,360 shares of the information technology services provider’s stock worth $551,000 after acquiring an additional 1,358 shares during the last quarter. Dorsey Wright & Associates bought a new position in ServiceNow during the 2nd quarter worth approximately $1,009,000. Finally, Janney Montgomery Scott LLC boosted its stake in ServiceNow by 27.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 25,721 shares of the information technology services provider’s stock worth $10,419,000 after acquiring an additional 5,616 shares during the last quarter. 92.11% of the stock is currently owned by institutional investors.

In related news, insider Chirantan Jitendra Desai sold 1,560 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $384.00, for a total transaction of $599,040.00. Following the transaction, the insider now directly owns 26,361 shares in the company, valued at $10,122,624. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Fay Sien Goon sold 2,447 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $351.36, for a total transaction of $859,777.92. Following the completion of the transaction, the insider now owns 2,600 shares in the company, valued at $913,536. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,794 shares of company stock worth $48,071,718. 1.00% of the stock is owned by corporate insiders.

Several research firms recently weighed in on NOW. Zacks Investment Research lowered shares of ServiceNow from a “strong-buy” rating to a “hold” rating and set a $465.00 price objective on the stock. in a research note on Wednesday, July 1st. Needham & Company LLC lifted their price objective on shares of ServiceNow from $440.00 to $481.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Canaccord Genuity lifted their price objective on shares of ServiceNow from $375.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho lifted their price objective on shares of ServiceNow from $445.00 to $460.00 in a research note on Thursday. Finally, Wells Fargo & Co lifted their price objective on shares of ServiceNow from $405.00 to $525.00 in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. ServiceNow has a consensus rating of “Buy” and an average price target of $433.85.

NYSE NOW opened at $439.20 on Friday. The company has a market capitalization of $83.76 billion, a PE ratio of 119.35, a price-to-earnings-growth ratio of 15.19 and a beta of 1.34. ServiceNow Inc has a 12-month low of $213.99 and a 12-month high of $454.70. The firm’s 50 day moving average is $413.30 and its 200-day moving average is $348.33. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 0.46.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 29th. The information technology services provider reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $1.03. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. ServiceNow had a net margin of 18.42% and a return on equity of 11.09%. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 earnings per share. As a group, sell-side analysts expect that ServiceNow Inc will post 1.01 EPS for the current year.

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.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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