ServiceNow, Inc. $NOW Shares Sold by Lazard Freres Gestion S.A.S.

by · The Cerbat Gem

Lazard Freres Gestion S.A.S. decreased its holdings in ServiceNow, Inc. (NYSE:NOW – Free Report) by 30.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,938 shares of the information technology services provider’s stock after selling 1,721 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in ServiceNow were worth $4,048,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NOW. Haverford Trust Co boosted its stake in ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock worth $936,000 after purchasing an additional 10 shares during the period. Ascent Group LLC raised its holdings in ServiceNow by 0.5% in the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock worth $1,628,000 after acquiring an additional 10 shares during the period. Edgemoor Investment Advisors Inc. raised its holdings in ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $366,000 after acquiring an additional 11 shares during the period. Integrated Investment Consultants LLC increased its holdings in shares of ServiceNow by 2.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock worth $358,000 after purchasing an additional 11 shares during the period. Finally, one8zero8 LLC increased its holdings in shares of ServiceNow by 3.2% during the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock worth $283,000 after purchasing an additional 11 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NOW. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Oppenheimer restated an “outperform” rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. Needham & Company LLC increased their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. DA Davidson raised their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,124.17.

Get Our Latest Research Report on NOW

ServiceNow Stock Performance

Shares of NOW opened at $939.60 on Friday. The firm has a 50-day moving average of $916.59 and a 200-day moving average of $939.53. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company has a market cap of $195.44 billion, a PE ratio of 118.34, a price-to-earnings-growth ratio of 4.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

ServiceNow (NYSE:NOW – Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the firm posted $3.13 EPS. The company’s quarterly revenue was up 22.4% on a year-over-year basis. As a group, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity at ServiceNow

In other news, insider Paul Fipps sold 1,452 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total transaction of $1,299,612.60. Following the completion of the sale, the insider owned 457 shares in the company, valued at approximately $409,037.85. This trade represents a 76.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 5,825 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the sale, the chief executive officer owned 6,614 shares of the company’s stock, valued at approximately $6,062,590.82. This represents a 46.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock worth $16,798,825 in the last quarter. 0.38% of the stock is owned by corporate insiders.

ServiceNow Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW – Free Report).