Catalyst Capital Advisors LLC Sells 815 Shares of ServiceNow, Inc. (NYSE:NOW)

Catalyst Capital Advisors LLC decreased its position in ServiceNow, Inc. (NYSE:NOWGet Rating) by 21.8% during the fourth quarter, Holdings Channel reports. The fund owned 2,915 shares of the information technology services provider’s stock after selling 815 shares during the period. Catalyst Capital Advisors LLC’s holdings in ServiceNow were worth $1,892,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Eagle Bay Advisors LLC raised its stake in shares of ServiceNow by 75.0% in the third quarter. Eagle Bay Advisors LLC now owns 42 shares of the information technology services provider’s stock worth $27,000 after buying an additional 18 shares during the period. MV Capital Management Inc. raised its stake in shares of ServiceNow by 96.2% in the third quarter. MV Capital Management Inc. now owns 51 shares of the information technology services provider’s stock worth $32,000 after buying an additional 25 shares during the period. AHL Investment Management Inc. bought a new position in shares of ServiceNow in the fourth quarter worth about $35,000. Lee Financial Co raised its stake in shares of ServiceNow by 671.4% in the fourth quarter. Lee Financial Co now owns 54 shares of the information technology services provider’s stock worth $35,000 after buying an additional 47 shares during the period. Finally, BerganKDV Wealth Management LLC raised its stake in shares of ServiceNow by 240.0% in the third quarter. BerganKDV Wealth Management LLC now owns 68 shares of the information technology services provider’s stock worth $42,000 after buying an additional 48 shares during the period. 87.20% of the stock is currently owned by institutional investors.

Several research firms have recently commented on NOW. Jefferies Financial Group decreased their price objective on ServiceNow from $765.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, January 27th. Cowen decreased their target price on ServiceNow from $725.00 to $695.00 in a research note on Thursday, April 28th. BNP Paribas downgraded ServiceNow from a “neutral” rating to an “underperform” rating and set a $460.00 target price on the stock. in a research note on Tuesday, March 29th. StockNews.com initiated coverage on ServiceNow in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Canaccord Genuity Group decreased their target price on ServiceNow from $715.00 to $615.00 in a research note on Thursday, January 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $664.74.

Shares of ServiceNow stock traded up $19.71 during trading on Friday, hitting $452.65. 2,093,565 shares of the company were exchanged, compared to its average volume of 1,754,470. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.37. ServiceNow, Inc. has a fifty-two week low of $406.47 and a fifty-two week high of $707.60. The stock has a market capitalization of $90.74 billion, a price-to-earnings ratio of 411.50, a P/E/G ratio of 8.23 and a beta of 1.09. The firm has a 50 day moving average price of $516.26 and a 200 day moving average price of $577.81.

ServiceNow (NYSE:NOWGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The information technology services provider reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.03. ServiceNow had a return on equity of 8.66% and a net margin of 3.56%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the firm posted $0.50 EPS. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. Analysts predict that ServiceNow, Inc. will post 1.8 earnings per share for the current year.

In other ServiceNow news, COO Chirantan Jitendra Desai sold 3,000 shares of the business’s stock in a transaction on Monday, February 14th. The stock was sold at an average price of $578.48, for a total value of $1,735,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gina Mastantuono sold 719 shares of the business’s stock in a transaction on Friday, February 18th. The shares were sold at an average price of $565.96, for a total value of $406,925.24. The disclosure for this sale can be found here. Insiders have sold a total of 22,007 shares of company stock valued at $12,332,620 over the last 90 days. Insiders own 0.35% of the company’s stock.

ServiceNow Company Profile (Get Rating)

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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