BI Asset Management Fondsmaeglerselskab A S Reduces Holdings in ServiceNow, Inc. $NOW

BI Asset Management Fondsmaeglerselskab A S trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 11.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,388 shares of the information technology services provider’s stock after selling 3,453 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in ServiceNow were worth $21,009,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of NOW. Brighton Jones LLC boosted its stake in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock worth $2,919,000 after buying an additional 30 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of ServiceNow by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 287,180 shares of the information technology services provider’s stock valued at $304,454,000 after purchasing an additional 9,748 shares during the period. Curi RMB Capital LLC boosted its stake in shares of ServiceNow by 19.1% during the fourth quarter. Curi RMB Capital LLC now owns 1,525 shares of the information technology services provider’s stock valued at $1,617,000 after purchasing an additional 245 shares during the period. TD Waterhouse Canada Inc. boosted its stake in shares of ServiceNow by 81.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 15,895 shares of the information technology services provider’s stock valued at $16,842,000 after purchasing an additional 7,146 shares during the period. Finally, J. Safra Sarasin Holding AG boosted its stake in shares of ServiceNow by 9.2% during the fourth quarter. J. Safra Sarasin Holding AG now owns 53,705 shares of the information technology services provider’s stock valued at $56,934,000 after purchasing an additional 4,547 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Scotiabank set a $1,100.00 target price on shares of ServiceNow and gave the company an “outperform” rating in a research note on Wednesday, May 7th. The Goldman Sachs Group reissued a “buy” rating on shares of ServiceNow in a research note on Thursday, April 24th. Canaccord Genuity Group lowered their target price on shares of ServiceNow from $1,275.00 to $900.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird boosted their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Piper Sandler boosted their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,115.20.

ServiceNow Stock Up 2.7%

NYSE:NOW opened at $890.73 on Tuesday. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The stock has a market capitalization of $185.27 billion, a P/E ratio of 112.18, a P/E/G ratio of 3.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company’s 50-day simple moving average is $964.30 and its 200-day simple moving average is $932.15.

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

Insider Transactions at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider directly owned 3,000 shares of the company’s stock, valued at $3,060,000. This trade represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anita M. Sands sold 428 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the completion of the transaction, the director directly owned 10,891 shares of the company’s stock, valued at $11,039,226.51. The trade was a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,038 shares of company stock worth $5,971,973 over the last ninety days. 0.38% of the stock is currently owned by insiders.

ServiceNow 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.