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Gulf International Bank UK Ltd Sells 4,052 Shares of ServiceNow, Inc. (NYSE:NOW)

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Key Points

  • Gulf International Bank UK Ltd reduced its holdings in ServiceNow, Inc. by 25.5% during the first quarter, now owning 11,844 shares valued at approximately $9.43 million.
  • Several large investors have recently purchased shares in ServiceNow, with 87.18% of the stock now owned by institutional investors and hedge funds.
  • ServiceNow reported $4.09 EPS for the last quarter, exceeding analyst expectations of $3.57 EPS, while also achieving a 22.4% year-over-year revenue growth.
  • Want stock alerts on ServiceNow? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Gulf International Bank UK Ltd lessened its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 25.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,844 shares of the information technology services provider's stock after selling 4,052 shares during the period. Gulf International Bank UK Ltd's holdings in ServiceNow were worth $9,429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Brighton Jones LLC lifted its position in ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares during the period. Cohen & Steers Inc. grew its position in shares of ServiceNow by 5.6% during the 4th quarter. Cohen & Steers Inc. now owns 507 shares of the information technology services provider's stock valued at $537,000 after acquiring an additional 27 shares during the period. CreativeOne Wealth LLC grew its position in shares of ServiceNow by 20.5% during the 4th quarter. CreativeOne Wealth LLC now owns 1,443 shares of the information technology services provider's stock valued at $1,530,000 after acquiring an additional 245 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in shares of ServiceNow during the 4th quarter valued at $576,000. Finally, Kane Investment Management Inc. bought a new stake in shares of ServiceNow during the 4th quarter valued at $1,912,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Trading Up 1.9%

NOW stock traded up $16.03 during midday trading on Friday, reaching $866.89. The stock had a trading volume of 1,751,095 shares, compared to its average volume of 1,710,254. The business has a fifty day simple moving average of $970.30 and a two-hundred day simple moving average of $937.15. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $180.31 billion, a price-to-earnings ratio of 109.18, a PEG ratio of 3.89 and a beta of 0.93. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the company earned $3.13 EPS. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 239 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the sale, the director owned 10,404 shares in the company, valued at $10,924,200. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the transaction, the insider directly owned 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,738 shares of company stock worth $5,713,973. Insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NOW shares. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. Erste Group Bank reissued a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Royal Bank Of Canada raised their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Morgan Stanley restated an "equal weight" rating on shares of ServiceNow in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,115.20.

Read Our Latest Research Report on ServiceNow

ServiceNow Profile

(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.

Read More

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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