ServiceNow, Inc. (NOW) Position Trimmed by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 27.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 777,255 shares of the information technology services provider’s stock after selling 294,478 shares during the period. Alliancebernstein L.P. owned 0.46% of ServiceNow worth $82,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allen Investment Management LLC acquired a new position in ServiceNow during the second quarter worth $45,372,000. Swiss National Bank increased its holdings in ServiceNow by 3.1% during the second quarter. Swiss National Bank now owns 606,600 shares of the information technology services provider’s stock worth $64,300,000 after buying an additional 18,200 shares during the last quarter. Teachers Advisors LLC increased its holdings in ServiceNow by 29.0% during the first quarter. Teachers Advisors LLC now owns 698,964 shares of the information technology services provider’s stock worth $61,138,000 after buying an additional 157,079 shares during the last quarter. Vista Equity Partners Management LLC increased its holdings in ServiceNow by 27.4% during the first quarter. Vista Equity Partners Management LLC now owns 68,743 shares of the information technology services provider’s stock worth $6,013,000 after buying an additional 14,772 shares during the last quarter. Finally, United Services Automobile Association increased its holdings in ServiceNow by 44.6% during the first quarter. United Services Automobile Association now owns 250,551 shares of the information technology services provider’s stock worth $21,916,000 after buying an additional 77,239 shares during the last quarter.

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In other news, insider Michael Scarpelli sold 75,000 shares of ServiceNow stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.68, for a total transaction of $8,076,000.00. Following the completion of the sale, the insider now owns 252,368 shares in the company, valued at approximately $27,174,986.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO David Schneider sold 16,349 shares of ServiceNow stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $107.25, for a total value of $1,753,430.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 928,853 shares of company stock valued at $101,627,586. Corporate insiders own 3.30% of the company’s stock.

Shares of ServiceNow, Inc. (NOW) opened at 116.26 on Wednesday. ServiceNow, Inc. has a 52-week low of $71.34 and a 52-week high of $118.64. The company’s 50-day moving average is $110.53 and its 200 day moving average is $100.21. The company’s market cap is $19.85 billion.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 26th. The information technology services provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. ServiceNow had a negative return on equity of 29.05% and a negative net margin of 10.17%. The business had revenue of $471.70 million during the quarter, compared to the consensus estimate of $462.11 million. During the same quarter last year, the company earned $0.15 EPS. The firm’s revenue was up 38.2% compared to the same quarter last year. On average, analysts anticipate that ServiceNow, Inc. will post $1.17 EPS for the current year.

Several equities analysts have commented on NOW shares. Zacks Investment Research downgraded shares of ServiceNow from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. BidaskClub upgraded shares of ServiceNow from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Morgan Stanley reiterated an “overweight” rating and issued a $134.00 price objective (up from $124.00) on shares of ServiceNow in a report on Thursday, July 20th. Barclays PLC reiterated an “overweight” rating and issued a $115.00 price objective (up from $107.00) on shares of ServiceNow in a report on Monday, June 5th. Finally, J P Morgan Chase & Co started coverage on shares of ServiceNow in a report on Friday, June 23rd. They issued an “overweight” rating and a $125.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $117.40.

ServiceNow Profile

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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