ServiceNow, Inc. $NOW Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 17.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 249,404 shares of the information technology services provider’s stock after selling 53,912 shares during the period. Vontobel Holding Ltd.’s holdings in ServiceNow were worth $256,407,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of ServiceNow by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock worth $15,522,335,000 after buying an additional 297,734 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of ServiceNow by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock worth $2,263,519,000 after buying an additional 188,292 shares during the period. Nuveen LLC acquired a new position in shares of ServiceNow during the 1st quarter worth approximately $1,817,535,000. Alliancebernstein L.P. raised its stake in shares of ServiceNow by 16.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock worth $1,379,461,000 after buying an additional 242,132 shares during the period. Finally, Amundi raised its stake in shares of ServiceNow by 61.9% during the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock worth $1,269,777,000 after buying an additional 626,623 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares in the company, valued at $2,599,350. This trade represents a 36.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 1,562 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the transaction, the insider owned 3,027 shares of the company’s stock, valued at $2,622,744.15. This trade represents a 34.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,737 shares of company stock worth $16,798,825 over the last ninety days. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent research reports. Jefferies Financial Group increased their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Piper Sandler increased their price objective on ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Barclays set a $1,210.00 price objective on ServiceNow in a research note on Thursday, July 24th. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Finally, UBS Group dropped their target price on ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating for the company in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,122.20.

ServiceNow Stock Performance

NYSE NOW opened at $914.15 on Thursday. The stock has a market cap of $190.14 billion, a PE ratio of 115.13, a P/E/G ratio of 4.07 and a beta of 0.92. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a fifty day simple moving average of $910.23 and a 200-day simple moving average of $930.97.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company’s revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.13 EPS. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow Company Profile

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.