Robeco Institutional Asset Management B.V. Has $169.68 Million Stock Position in ServiceNow, Inc. $NOW

Key Points

• Robeco Institutional Asset Management B.V. has decreased its stake in ServiceNow, Inc. by 9.5%, now owning 165,041 shares valued at approximately $169.68 million.
• Insider trading activity includes significant sales by General Counsel Russell S. Elmer and Vice Chairman Nicholas Tzitzon, reducing their respective holdings by 28.16% and 36.43%.
• ServiceNow reported earnings per share (EPS) of $4.09 for the recent quarter, surpassing estimates by $0.52, and exhibited a 22.4% increase in revenue year-over-year.

Robeco Institutional Asset Management B.V. reduced its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 165,041 shares of the information technology services provider's stock after selling 17,380 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.08% of ServiceNow worth $169,675,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. acquired a new position in ServiceNow during the 2nd quarter worth approximately $30,000. Bogart Wealth LLC raised its stake in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new position in ServiceNow during the 1st quarter worth approximately $26,000. WASHINGTON TRUST Co raised its stake in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after buying an additional 31 shares during the period. Finally, Dagco Inc. acquired a new position in ServiceNow during the 1st quarter worth approximately $33,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the transaction, the general counsel directly owned 4,332 shares of the company's stock, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider directly owned 3,000 shares of the company's stock, valued at approximately $2,599,350. This trade represents a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock valued at $16,798,825 in the last quarter. Insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

Shares of NOW opened at $912.13 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $189.72 billion, a price-to-earnings ratio of 114.88, a PEG ratio of 4.15 and a beta of 0.92. The stock has a 50 day moving average of $917.56 and a 200 day moving average of $928.31. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

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

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research reports. Raymond James Financial upped their price target on ServiceNow from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Needham & Company LLC increased their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Jefferies Financial Group increased their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating 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, Erste Group Bank reissued a "hold" rating on shares of ServiceNow in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average target price of $1,122.20.

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.

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