Victory Capital Management Inc. Has $195.59 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Victory Capital Management Inc. cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 13.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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. owned approximately 0.11% of ServiceNow worth $195,590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Creekmur Asset Management LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at approximately $25,000. Versant Capital Management Inc increased its holdings in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares in the last quarter. DT Investment Partners LLC boosted its holdings in shares of ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares in the last quarter. EntryPoint Capital LLC grew its position in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in ServiceNow in the 2nd quarter worth about $32,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 0.5 %

NYSE:NOW traded up $4.86 during trading hours on Tuesday, hitting $1,040.87. 324,569 shares of the company traded hands, compared to its average volume of 1,275,947. ServiceNow, Inc. has a one year low of $632.25 and a one year high of $1,043.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $214.42 billion, a PE ratio of 161.26, a PEG ratio of 5.79 and a beta of 0.98. The firm’s 50-day simple moving average is $916.20 and its 200-day simple moving average is $815.82.

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

Insider Buying and Selling at ServiceNow

In related news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 135 shares of ServiceNow stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $822.00, for a total value of $110,970.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 2,539 shares of company stock valued at $2,138,333 over the last three months. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NOW shares. Royal Bank of Canada boosted their price target on ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Sanford C. Bernstein lifted their price target on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Barclays raised their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. JMP Securities upped their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Finally, Needham & Company LLC raised their price objective on ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a research report 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 data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $974.04.

About ServiceNow

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.