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

PGGM Investments decreased its position in ServiceNow, Inc. (NYSE:NOW) by 24.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,115 shares of the information technology services provider’s stock after selling 1,015 shares during the quarter. PGGM Investments’ holdings in ServiceNow were worth $2,450,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NOW. Argonautica Private Wealth Management Inc. raised its holdings in shares of ServiceNow by 1.0% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,376 shares of the information technology services provider’s stock valued at $972,000 after purchasing an additional 13 shares in the last quarter. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of ServiceNow by 30.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 60 shares of the information technology services provider’s stock worth $42,000 after buying an additional 14 shares during the last quarter. Optas LLC boosted its holdings in ServiceNow by 1.7% during the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after acquiring an additional 14 shares during the period. Cedar Wealth Management LLC boosted its stake in ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock valued at $204,000 after purchasing an additional 14 shares during the period. Finally, Forbes J M & Co. LLP increased its position in ServiceNow by 0.3% in the 1st quarter. Forbes J M & Co. LLP now owns 5,293 shares of the information technology services provider’s stock worth $4,035,000 after buying an additional 15 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

NYSE NOW traded up $12.98 during midday trading on Thursday, hitting $832.00. The company had a trading volume of 349,572 shares, compared to its average volume of 1,320,282. The company has a market capitalization of $170.56 billion, a PE ratio of 87.60, a P/E/G ratio of 4.82 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $850.33. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $765.31 and a 200-day moving average price of $756.61.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations 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 EPS. As a group, analysts anticipate that ServiceNow, Inc. will post 6.84 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Paul John Smith sold 602 shares of ServiceNow stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $769.75, for a total transaction of $463,389.50. Following the sale, the insider now directly owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paul John Smith sold 602 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the sale, the insider now owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,943 shares of company stock worth $7,566,635. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NOW. Needham & Company LLC restated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research note on Thursday, July 25th. Royal Bank of Canada lifted their price objective on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Canaccord Genuity Group reiterated a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. UBS Group decreased their price target on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $842.22.

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.