International Assets Investment Management LLC Sells 185 Shares of ServiceNow, Inc. $NOW

International Assets Investment Management LLC lessened its stake in ServiceNow, Inc. (NYSE:NOW) by 13.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,157 shares of the information technology services provider’s stock after selling 185 shares during the quarter. International Assets Investment Management LLC’s holdings in ServiceNow were worth $1,189,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in ServiceNow by 1.6% in the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider’s stock valued at $15,522,335,000 after purchasing an additional 297,734 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in ServiceNow by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider’s stock valued at $2,263,519,000 after purchasing an additional 188,292 shares during the last quarter. Nuveen LLC bought a new stake in ServiceNow in the first quarter valued at about $1,817,535,000. Alliancebernstein L.P. increased its holdings in ServiceNow by 16.2% in the first quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider’s stock valued at $1,379,461,000 after purchasing an additional 242,132 shares during the last quarter. Finally, Amundi increased its holdings in ServiceNow by 61.9% in the first quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after purchasing an additional 626,623 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 1,762 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 1,562 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,353,394.90. Following the sale, the insider owned 3,027 shares in the company, valued at $2,622,744.15. The trade was a 34.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock valued at $16,798,825 over the last ninety days. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of ServiceNow in a research note on Wednesday, October 8th. Erste Group Bank reissued a “hold” rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Needham & Company LLC boosted their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. JMP Securities reissued a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. Finally, Raymond James Financial boosted their target price on ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,121.37.

ServiceNow Stock Up 1.1%

NOW stock opened at $904.57 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $188.15 billion, a P/E ratio of 113.93, a P/E/G ratio of 4.07 and a beta of 0.92. The business has a 50-day moving average of $910.30 and a 200-day moving average of $936.72. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

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

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.