ServiceNow, Inc. (NYSE:NOW) Stake Lowered by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,288 shares of the information technology services provider’s stock after selling 1,700 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in ServiceNow were worth $70,914,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&G Plc bought a new stake in ServiceNow in the 1st quarter valued at $11,030,000. AXA S.A. boosted its position in ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after buying an additional 4,271 shares in the last quarter. HWG Holdings LP bought a new stake in ServiceNow during the 2nd quarter worth approximately $2,679,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in ServiceNow by 375.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after acquiring an additional 1,078 shares during the last quarter. Finally, Wealthspire Advisors LLC lifted its stake in shares of ServiceNow by 3.4% during the first quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock valued at $1,283,000 after acquiring an additional 56 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NOW shares. Robert W. Baird increased their price objective on ServiceNow from $900.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Sanford C. Bernstein boosted their target price on shares of ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. BMO Capital Markets raised their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Needham & Company LLC raised their price target on shares of ServiceNow from $900.00 to $1,075.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Evercore ISI increased their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $970.33.

ServiceNow Stock Performance

NOW traded up $9.81 during trading on Monday, hitting $953.22. The stock had a trading volume of 119,235 shares, compared to its average volume of 1,279,740. The company’s 50-day moving average price is $896.89 and its 200 day moving average price is $804.49. ServiceNow, Inc. has a twelve month low of $602.45 and a twelve month high of $979.78. The firm has a market capitalization of $196.36 billion, a P/E ratio of 146.72, a PEG ratio of 5.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. On average, equities research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 187 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the sale, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul John Smith sold 187 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the transaction, the insider now directly owns 3,779 shares in the company, valued at approximately $3,006,496.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,530 shares of company stock worth $2,939,955 over the last ninety days. Company insiders own 0.25% of the company’s stock.

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.