Pacer Advisors Inc. Has $14.18 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Pacer Advisors Inc. cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,022 shares of the information technology services provider’s stock after selling 422 shares during the period. Pacer Advisors Inc.’s holdings in ServiceNow were worth $14,177,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Creekmur Asset Management LLC acquired a new stake in ServiceNow during the first quarter worth about $25,000. Versant Capital Management Inc lifted its holdings in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in shares of ServiceNow in the fourth quarter worth about $29,000. EntryPoint Capital LLC lifted its holdings in shares of ServiceNow by 3,900.0% in the first 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 bought a new position in shares of ServiceNow in the second quarter worth about $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Up 2.0 %

NOW stock opened at $937.36 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $192.16 billion, a PE ratio of 100.25, a PEG ratio of 5.25 and a beta of 0.98. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $940.12. The stock has a 50-day simple moving average of $822.56 and a two-hundred day simple moving average of $771.66.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, equities analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on NOW. JMP Securities raised their price objective on shares of ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. KeyCorp dropped their price objective on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Citigroup raised their price objective on shares of ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Canaccord Genuity Group reissued a “buy” rating and set a $835.00 target price on shares of ServiceNow in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $855.44.

Insider Buying and Selling

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Paul John Smith sold 187 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total transaction of $148,773.46. Following the sale, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The disclosure for this sale can be found here. Insiders sold 6,914 shares of company stock worth $5,608,936 in the last quarter. 0.25% of the stock is owned by insiders.

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.