Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Reduces Position in ServiceNow, Inc. (NYSE:NOW)

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 76.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,269 shares of the information technology services provider's stock after selling 4,110 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings in ServiceNow were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC raised its stake in shares of ServiceNow by 2.2% during the first quarter. Proficio Capital Partners LLC now owns 643 shares of the information technology services provider's stock valued at $512,000 after purchasing an additional 14 shares during the period. KLP Kapitalforvaltning AS grew its holdings in ServiceNow by 2.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 81,365 shares of the information technology services provider's stock valued at $64,778,000 after purchasing an additional 1,940 shares in the last quarter. United Bank lifted its holdings in ServiceNow by 67.7% in the 1st quarter. United Bank now owns 1,315 shares of the information technology services provider's stock worth $1,047,000 after buying an additional 531 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of ServiceNow by 3.2% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 234,043 shares of the information technology services provider's stock worth $186,331,000 after acquiring an additional 7,287 shares in the last quarter. Finally, Maytree Asset Management Ltd purchased a new position in ServiceNow in the first quarter valued at about $398,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler reduced their price objective on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. BMO Capital Markets raised their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. Oppenheimer restated an "outperform" rating and set a $1,100.00 price objective (up from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, UBS Group reiterated a "buy" rating and issued a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and an average price target of $1,079.58.

ServiceNow Price Performance

NOW traded up $3.71 on Tuesday, reaching $963.62. The company had a trading volume of 1,174,809 shares, compared to its average volume of 1,486,819. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a market cap of $199.45 billion, a price-to-earnings ratio of 130.93, a P/E/G ratio of 4.40 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. The business has a 50 day simple moving average of $1,006.53 and a 200 day simple moving average of $955.01.

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, beating analysts' consensus estimates 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 17.34% and a net margin of 13.41%. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the firm earned $3.41 earnings per share. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer owned 6,614 shares of the company's stock, valued at $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of ServiceNow stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the sale, the insider directly owned 3,000 shares in the company, valued at $3,060,000. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,601 shares of company stock worth $6,577,363 over the last 90 days. 0.38% of the stock is owned by insiders.

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.