ServiceNow, Inc. $NOW Shares Sold by Hyperion Asset Management Ltd

Hyperion Asset Management Ltd lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 24.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 274,946 shares of the information technology services provider’s stock after selling 88,120 shares during the period. ServiceNow accounts for 0.7% of Hyperion Asset Management Ltd’s portfolio, making the stock its 20th biggest holding. Hyperion Asset Management Ltd’s holdings in ServiceNow were worth $27,297,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wealth Watch Advisors INC acquired a new position in ServiceNow during the 3rd quarter valued at about $29,000. Kelleher Financial Advisors acquired a new stake in shares of ServiceNow in the third quarter valued at approximately $50,000. Pin Oak Investment Advisors Inc. raised its holdings in shares of ServiceNow by 20.7% during the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 23 shares during the last quarter. Jupiter Wealth Management LLC bought a new stake in shares of ServiceNow during the second quarter valued at approximately $154,000. Finally, CBIZ Investment Advisory Services LLC boosted its position in shares of ServiceNow by 540.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NOW. Jefferies Financial Group reissued a “buy” rating and issued a $140.00 price objective (up from $135.00) on shares of ServiceNow in a report on Thursday, July 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 target price on shares of ServiceNow in a research note on Thursday, July 23rd. Sanford C. Bernstein reiterated an “outperform” rating and set a $248.00 price target (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. Guggenheim raised ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Wednesday, July 1st. Finally, Capital One Financial raised their price target on ServiceNow from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.39.

ServiceNow Price Performance

NYSE NOW opened at $127.51 on Wednesday. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $131.85 billion, a PE ratio of 79.69, a P/E/G ratio of 2.24 and a beta of 0.94. The company’s 50 day simple moving average is $106.56 and its 200 day simple moving average is $105.74.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insider Activity

In related news, insider Paul Fipps sold 1,048 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider owned 12,072 shares of the company’s stock, valued at $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 18,993 shares of company stock worth $1,716,436. 0.34% of the stock is owned by company insiders.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.