Neville Rodie & Shaw Inc. Has $2.42 Million Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• Neville Rodie & Shaw Inc. has reduced its holdings in ServiceNow, Inc. by 11.7%, selling 310 shares and now owning 2,349 shares worth approximately $2,415,000.
• Several institutional investors have significantly increased their positions in ServiceNow, with noteworthy increases including GAMMA Investing LLC and OVERSEA CHINESE BANKING Corp Ltd.
• The stock has a market capitalization of $193.45 billion and analysts have set a consensus target price of $1,115.20, with a majority rating it as a "Moderate Buy."

Neville Rodie & Shaw Inc. cut its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,349 shares of the information technology services provider's stock after selling 310 shares during the period. Neville Rodie & Shaw Inc.'s holdings in ServiceNow were worth $2,415,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of ServiceNow by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock worth $15,522,335,000 after acquiring an additional 297,734 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in ServiceNow by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider's stock valued at $2,263,519,000 after acquiring an additional 188,292 shares in the last quarter. GAMMA Investing LLC boosted its position in ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after buying an additional 2,686,291 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of ServiceNow by 3.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider's stock valued at $2,814,433,000 after buying an additional 87,876 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at $1,817,535,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Trading Down 0.9%

Shares of ServiceNow stock traded down $8.24 during trading hours on Friday, hitting $930.04. The company's stock had a trading volume of 711,066 shares, compared to its average volume of 1,527,927. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The stock has a 50 day moving average of $927.34 and a 200 day moving average of $922.34. The company has a market capitalization of $193.45 billion, a PE ratio of 117.13, a price-to-earnings-growth ratio of 4.18 and a beta of 0.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly 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 the consensus estimate of $3.12 billion. During the same period in the prior year, the company earned $3.13 earnings per share. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NOW. Wall Street Zen cut ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Monday, August 4th. Oppenheimer reissued an "outperform" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. FBN Securities raised ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Finally, Mizuho lifted their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,115.20.

Insider Activity at ServiceNow

In other news, CFO Gina Mastantuono sold 1,762 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer directly owned 12,228 shares of the company's stock, valued at $10,594,950.60. This represents a 12.59% 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 Jacqueline P. Canney sold 1,562 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,353,394.90. Following the transaction, the insider directly owned 3,027 shares of the company's stock, valued at $2,622,744.15. This represents a 34.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,976 shares of company stock valued at $17,049,775 over the last ninety days. Company insiders own 0.38% of the company's stock.

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.