Rathbones Group PLC Has $113.53 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Rathbones Group PLC increased its stake in ServiceNow, Inc. by 6.3%, owning a total of 142,600 shares valued at approximately $113.53 million.
• Institutional investors own 87.18% of ServiceNow's stock, indicating strong support from large financial entities.
• ServiceNow reported $4.09 earnings per share for the last quarter, surpassing estimates and demonstrating a year-over-year revenue increase of 22.4%.

Rathbones Group PLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,600 shares of the information technology services provider's stock after buying an additional 8,471 shares during the period. Rathbones Group PLC owned about 0.07% of ServiceNow worth $113,530,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 valued at $15,522,335,000 after acquiring an additional 297,734 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in ServiceNow by 6.8% during 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 during the period. GAMMA Investing LLC increased its position in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in ServiceNow by 3.4% in the fourth 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 acquiring an additional 87,876 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of ServiceNow by 4.9% during the fourth quarter. Nuveen Asset Management LLC now owns 2,343,840 shares of the information technology services provider's stock valued at $2,484,752,000 after purchasing an additional 109,293 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

NOW stock traded up $9.39 on Wednesday, hitting $862.82. 2,453,098 shares of the company's stock traded hands, compared to its average volume of 1,761,136. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The stock has a market cap of $179.47 billion, a price-to-earnings ratio of 108.67, a P/E/G ratio of 3.85 and a beta of 0.93. The stock has a fifty day moving average of $973.65 and a 200-day moving average of $939.15. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating 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 net margin of 13.78% and a return on equity of 18.04%. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.13 EPS. On average, analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Mizuho boosted their price target on ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $1,200.00 price target on shares of ServiceNow in a report on Thursday, July 24th. Evercore ISI raised their price target on ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Stifel Nicolaus lifted their price objective on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group lifted their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

Insiders Place Their Bets

In other ServiceNow news, Director Anita M. Sands sold 428 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the sale, the director directly owned 10,891 shares of the company's stock, valued at $11,039,226.51. This represents a 3.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,587 shares of company stock worth $5,584,027 in the last ninety 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.