ServiceNow, Inc. (NYSE:NOW) Stake Lowered by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. trimmed its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 6.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 182,421 shares of the information technology services provider’s stock after selling 13,512 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.09% of ServiceNow worth $145,233,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock valued at $874,258,000 after buying an additional 12,533 shares during the last quarter. FMR LLC increased its holdings in shares of ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock worth $6,232,339,000 after acquiring an additional 272,506 shares during the period. Duncker Streett & Co. Inc. lifted its position in ServiceNow by 4.8% in the 4th quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider’s stock valued at $6,759,000 after purchasing an additional 290 shares during the last quarter. Nicholas Investment Partners LP lifted its position in ServiceNow by 223.5% in the 4th quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider’s stock valued at $2,974,000 after purchasing an additional 1,938 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in ServiceNow by 18.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 196,783 shares of the information technology services provider’s stock valued at $209,103,000 after purchasing an additional 31,125 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 1.0%

NYSE NOW opened at $1,005.95 on Thursday. The firm’s 50 day moving average price is $975.77 and its two-hundred day moving average price is $968.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a market cap of $208.21 billion, a price-to-earnings ratio of 136.68, a PEG ratio of 4.58 and a beta of 0.95.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. ServiceNow’s revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.41 earnings per share. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the completion of the sale, the general counsel now owns 4,332 shares in the company, valued at $4,431,636. This represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,096,621. This represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NOW shares. Evercore ISI raised their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Barclays set a $1,085.00 target price on ServiceNow in a research report on Wednesday, May 7th. UBS Group reaffirmed a “buy” rating and set a $1,025.00 target price (up previously from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. Wall Street Zen downgraded ServiceNow from a “buy” rating to a “hold” rating in a research note on Monday, June 9th. Finally, FBN Securities raised ServiceNow to a “strong-buy” rating in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $1,065.32.

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.