Exane Asset Management Has $382,000 Position in ServiceNow, Inc. $NOW

Key Points

• Exane Asset Management reduced its stake in ServiceNow, Inc. by 74.6% in the second quarter, holding 372 shares valued at $382,000.
• ServiceNow reported earnings of $4.09 EPS for the last quarter, surpassing analyst expectations and achieving a 22.4% year-over-year revenue increase.
• Several brokerages have raised their price targets for ServiceNow, with Bank of America setting a new target of $1,200 and Needham & Company raising theirs to $1,200 as well.

Exane Asset Management lessened its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 74.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 372 shares of the information technology services provider's stock after selling 1,092 shares during the period. ServiceNow accounts for 0.2% of Exane Asset Management's portfolio, making the stock its 21st largest holding. Exane Asset Management's holdings in ServiceNow were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Global X Japan Co. Ltd. bought a new position in ServiceNow in the second quarter valued at about $30,000. Bogart Wealth LLC lifted its position in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow in the 1st quarter valued at about $26,000. WASHINGTON TRUST Co grew its position in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after buying an additional 31 shares during the period. Finally, Dagco Inc. bought a new stake in shares of ServiceNow during the first quarter worth approximately $33,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 2.0%

ServiceNow stock opened at $936.76 on Monday. The company has a 50 day moving average of $919.74 and a 200-day moving average of $927.82. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a market capitalization of $194.85 billion, a PE ratio of 117.98, a price-to-earnings-growth ratio of 4.22 and a beta of 0.91.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm's quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the business posted $3.13 earnings per share. On average, equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Russell S. Elmer sold 1,698 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the transaction, the general counsel directly owned 4,332 shares of the company's stock, valued at $3,830,614.32. This represents a 28.16% 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 Paul Fipps sold 1,452 shares of ServiceNow stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the sale, the insider directly owned 457 shares in the company, valued at approximately $409,037.85. This represents a 76.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,976 shares of company stock valued at $17,049,775. Corporate insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NOW. Needham & Company LLC raised their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. BMO Capital Markets upped their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Bank of America increased their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Citigroup boosted their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,122.20.

ServiceNow Company 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.

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