ServiceNow, Inc. (NYSE:NOW) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New decreased its stake in ServiceNow, Inc. (NYSE:NOW) by 12.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,231 shares of the information technology services provider’s stock after selling 871 shares during the quarter. Cigna Investments Inc. New’s holdings in ServiceNow were worth $3,425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. OLD Second National Bank of Aurora purchased a new position in shares of ServiceNow during the 1st quarter valued at $25,000. Selective Wealth Management Inc. purchased a new stake in shares of ServiceNow during the 2nd quarter worth about $30,000. SRS Capital Advisors Inc. acquired a new stake in shares of ServiceNow during the 2nd quarter valued at about $33,000. Lloyd Advisory Services LLC. grew its stake in shares of ServiceNow by 48.8% in the 2nd quarter. Lloyd Advisory Services LLC. now owns 61 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 20 shares in the last quarter. Finally, Wolverine Asset Management LLC increased its holdings in ServiceNow by 1,160.0% in the first quarter. Wolverine Asset Management LLC now owns 63 shares of the information technology services provider’s stock worth $31,000 after buying an additional 58 shares during the last quarter. 85.42% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Fay Sien Goon sold 979 shares of the stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $599.36, for a total transaction of $586,773.44. Following the completion of the transaction, the insider now directly owns 4,498 shares of the company’s stock, valued at $2,695,921.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Bostrom sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $461.40, for a total value of $2,076,300.00. Following the transaction, the director now directly owns 1,780 shares in the company, valued at approximately $821,292. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,283 shares of company stock valued at $17,400,568. Company insiders own 0.35% of the company’s stock.

Several equities analysts have commented on NOW shares. Mizuho increased their target price on shares of ServiceNow from $640.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Jefferies Financial Group upped their target price on ServiceNow from $625.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. UBS Group lifted their price target on shares of ServiceNow from $625.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. Morgan Stanley boosted their price objective on shares of ServiceNow from $662.00 to $700.00 and gave the stock an “overweight” rating in a research note on Thursday, July 29th. Finally, Needham & Company LLC lifted their target price on shares of ServiceNow from $591.00 to $641.00 and gave the stock a “buy” rating in a report on Thursday, July 29th. Two analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $646.20.

Shares of ServiceNow stock opened at $656.35 on Friday. The company has a market capitalization of $130.02 billion, a P/E ratio of 781.38, a price-to-earnings-growth ratio of 17.05 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50-day moving average of $604.05 and a two-hundred day moving average of $539.96. ServiceNow, Inc. has a 1 year low of $442.00 and a 1 year high of $681.10.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 28th. The information technology services provider reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $1.26. ServiceNow had a net margin of 3.30% and a return on equity of 9.10%. On average, equities analysts anticipate that ServiceNow, Inc. will post 1.35 EPS for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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