J. Safra Sarasin Holding AG Sells 384,506 Shares of ServiceNow, Inc. $NOW

J. Safra Sarasin Holding AG lessened its holdings in ServiceNow, Inc. (NYSE:NOW) by 94.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 22,647 shares of the information technology services provider’s stock after selling 384,506 shares during the period. J. Safra Sarasin Holding AG’s holdings in ServiceNow were worth $2,367,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of ServiceNow by 404.5% in the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after acquiring an additional 81,752,460 shares in the last quarter. State Street Corp raised its holdings in ServiceNow by 406.6% in the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock worth $7,337,280,000 after purchasing an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of ServiceNow by 371.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after buying an additional 25,517,218 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock valued at $3,591,425,000 after buying an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of ServiceNow by 335.6% in the 4th quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock valued at $3,482,543,000 after buying an additional 17,514,679 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 8,927 shares of ServiceNow stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the sale, the insider owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 28,071 shares of company stock worth $2,529,956. Insiders own 0.34% of the company’s stock.

ServiceNow Trading Up 3.4%

NYSE NOW opened at $111.32 on Tuesday. The company has a fifty day simple moving average of $102.95 and a two-hundred day simple moving average of $110.65. The stock has a market cap of $114.77 billion, a P/E ratio of 66.34, a P/E/G ratio of 1.79 and a beta of 0.96. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $210.20. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the company earned $0.81 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, analysts forecast that ServiceNow, Inc. will post 2.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of ServiceNow in a research report on Tuesday, May 26th. TD Cowen restated a “buy” rating and issued a $140.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Raymond James Financial reduced their price target on ServiceNow from $160.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Finally, Guggenheim upgraded ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, ServiceNow has an average rating of “Moderate Buy” and a consensus price target of $141.47.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.