Nvwm LLC Sells 268 Shares of ServiceNow, Inc. (NYSE:NOW)

Key Points

• Nvwm LLC sold 268 shares of ServiceNow, reducing its stake by 19.9%, leaving it with 1,079 shares valued at approximately $859,000.
• ServiceNow recorded $4.09 EPS for the last quarter, outperforming the consensus estimate of $3.57, with revenue reaching $3.22 billion.
• Analysts have a Moderate Buy rating for ServiceNow, with an average target price of $1,114.87, while TD Securities set a price objective of $1,100.00.

Nvwm LLC lowered its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 19.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,079 shares of the information technology services provider's stock after selling 268 shares during the quarter. Nvwm LLC's holdings in ServiceNow were worth $859,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of 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 worth $2,141,108,000 after buying an additional 2,686,291 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of ServiceNow by 1,586.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock worth $742,965,000 after buying an additional 877,875 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after buying an additional 509,467 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of ServiceNow by 36.7% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock worth $1,940,464,000 after buying an additional 491,861 shares in the last quarter. Finally, Sustainable Growth Advisers LP raised its holdings in shares of ServiceNow by 96.7% in the 1st quarter. Sustainable Growth Advisers LP now owns 723,457 shares of the information technology services provider's stock worth $575,973,000 after buying an additional 355,629 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. TD Securities reissued a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Barclays set a $1,210.00 target price on ServiceNow in a report on Thursday, July 24th. Scotiabank set a $1,100.00 target price on ServiceNow and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. dropped their price target on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insider Activity

In other ServiceNow news, CFO Gina Mastantuono sold 292 shares of ServiceNow stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $287,620.00. Following the transaction, the chief financial officer directly owned 11,198 shares in the company, valued at approximately $11,030,030. The trade was a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anita M. Sands sold 428 shares of ServiceNow stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the transaction, the director owned 10,891 shares in the company, valued at approximately $11,039,226.51. This represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,233 shares of company stock valued at $5,297,758. Company insiders own 0.38% of the company's stock.

ServiceNow Trading Down 0.9%

NOW stock traded down $8.94 during midday trading on Wednesday, hitting $984.26. 347,021 shares of the company's stock were exchanged, compared to its average volume of 1,682,736. The stock's fifty day moving average price is $998.96 and its 200-day moving average price is $951.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $204.73 billion, a PE ratio of 123.94, a price-to-earnings-growth ratio of 4.44 and a beta of 0.94. ServiceNow, Inc. has a one year low of $678.66 and a one year 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 for the quarter, topping the consensus estimate of $3.57 by $0.52. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The company's revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.13 earnings per share. Research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.