Vontobel Holding Ltd. Reduces Stock Position in ServiceNow, Inc. (NYSE:NOW)

Vontobel Holding Ltd. cut its stake in ServiceNow, Inc. (NYSE:NOWFree Report) by 16.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,276 shares of the information technology services provider’s stock after selling 9,388 shares during the period. Vontobel Holding Ltd.’s holdings in ServiceNow were worth $33,400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $872,202,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of ServiceNow by 69,897.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock valued at $332,386,000 after purchasing an additional 854,846 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of ServiceNow by 69,354.6% during the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock valued at $580,486,000 after purchasing an additional 820,465 shares during the last quarter. FMR LLC lifted its holdings in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after purchasing an additional 595,697 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of ServiceNow by 129.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock valued at $386,082,000 after purchasing an additional 560,908 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Down 0.2 %

NOW opened at $767.00 on Monday. The firm has a 50-day simple moving average of $770.27 and a two-hundred day simple moving average of $697.58. ServiceNow, Inc. has a 52 week low of $427.68 and a 52 week high of $815.32. The company has a market capitalization of $157.53 billion, a PE ratio of 91.40, a price-to-earnings-growth ratio of 4.86 and a beta of 0.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20.

ServiceNow (NYSE:NOWGet Free Report) last announced its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. Analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Paul John Smith sold 1,795 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the sale, the insider now directly owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul John Smith sold 1,795 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now directly owns 994 shares in the company, valued at $776,373.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NOW. Stifel Nicolaus reiterated a “buy” rating and set a $820.00 target price on shares of ServiceNow in a report on Wednesday, March 20th. BMO Capital Markets raised their price target on shares of ServiceNow from $630.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Mizuho raised their price target on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. KeyCorp started coverage on shares of ServiceNow in a research report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 price target for the company. Finally, Barclays raised their price target on shares of ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $772.22.

Get Our Latest Research Report on NOW

About ServiceNow

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOWFree Report).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow and related companies with MarketBeat.com's FREE daily email newsletter.