ServiceNow, Inc. (NYSE:NOW) Position Cut by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc cut its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 85,381 shares of the information technology services provider's stock after selling 3,610 shares during the period. ServiceNow makes up 1.0% of AEGON ASSET MANAGEMENT UK Plc's investment portfolio, making the stock its 26th largest position. AEGON ASSET MANAGEMENT UK Plc's holdings in ServiceNow were worth $67,991,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Romano Brothers AND Company increased its holdings in shares of ServiceNow by 21.3% during the 1st quarter. Romano Brothers AND Company now owns 2,410 shares of the information technology services provider's stock worth $1,919,000 after buying an additional 424 shares during the last quarter. Bremer Bank National Association increased its stake in ServiceNow by 31.8% during the first quarter. Bremer Bank National Association now owns 265 shares of the information technology services provider's stock worth $211,000 after acquiring an additional 64 shares during the last quarter. CGN Advisors LLC raised its holdings in shares of ServiceNow by 41.3% in the 1st quarter. CGN Advisors LLC now owns 2,338 shares of the information technology services provider's stock worth $1,861,000 after purchasing an additional 683 shares during the period. Unigestion Holding SA purchased a new stake in shares of ServiceNow during the 1st quarter worth about $924,000. Finally, Smith Anglin Financial LLC acquired a new stake in ServiceNow during the 1st quarter worth approximately $269,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Up 0.1%

NYSE NOW traded up $1.37 on Wednesday, hitting $1,012.25. 717,603 shares of the stock traded hands, compared to its average volume of 1,496,929. The company has a market capitalization of $209.52 billion, a P/E ratio of 148.21, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The stock has a 50-day moving average of $906.32 and a 200 day moving average of $974.56. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a twelve month low of $656.02 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. During the same period last year, the business posted $3.41 earnings per share. As a group, analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on NOW shares. Mizuho reduced their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Wall Street Zen raised shares of ServiceNow from a "hold" rating to a "buy" rating in a research note on Sunday. TD Securities reaffirmed a "buy" rating and set a $1,100.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Guggenheim raised their price objective on ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research report on Thursday, April 24th. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $1,003.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,062.50.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 248 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total value of $250,266.72. Following the transaction, the director now owns 10,643 shares of the company's stock, valued at $10,740,277.02. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer now owns 6,614 shares in the company, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by insiders.

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.