ServiceNow, Inc. $NOW Shares Acquired by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. increased its stake in ServiceNow by 128.8% during the second quarter, owning 55,394 shares valued at approximately $56.9 million.
• ServiceNow's recent quarterly earnings exceeded expectations, reporting $4.09 EPS against an estimate of $3.57, with revenue up 22.4% year-over-year at $3.22 billion.
• Despite positive earnings, ServiceNow's stock opened at $912.13 and experienced a decline of 0.9% on the trading day.

ASR Vermogensbeheer N.V. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 128.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,394 shares of the information technology services provider's stock after acquiring an additional 31,181 shares during the quarter. ServiceNow accounts for approximately 0.7% of ASR Vermogensbeheer N.V.'s portfolio, making the stock its 19th largest holding. ASR Vermogensbeheer N.V.'s holdings in ServiceNow were worth $56,944,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. Haverford Trust Co boosted its holdings in shares of ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock worth $936,000 after buying an additional 10 shares during the period. Ascent Group LLC boosted its holdings in shares of ServiceNow by 0.5% in the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock worth $1,628,000 after buying an additional 10 shares during the period. Edgemoor Investment Advisors Inc. boosted its holdings in shares of ServiceNow by 2.5% in the first quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $366,000 after buying an additional 11 shares during the period. Integrated Investment Consultants LLC boosted its holdings in shares of ServiceNow by 2.5% during the first quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock worth $358,000 after purchasing an additional 11 shares during the period. Finally, one8zero8 LLC boosted its holdings in shares of ServiceNow by 3.2% during the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock worth $283,000 after purchasing an additional 11 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Down 0.9%

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

ServiceNow (NYSE:NOW - Get Free Report) last issued 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 net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the company earned $3.13 EPS. The firm's quarterly revenue was up 22.4% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares of the company's stock, valued at $2,599,350. This trade represents a 36.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Fipps sold 1,452 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the sale, the insider directly owned 457 shares of the company's stock, valued at approximately $409,037.85. The trade was a 76.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock worth $16,798,825 in the last quarter. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on NOW. Mizuho lifted their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Raymond James Financial lifted their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. UBS Group reduced their target price on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Citigroup lifted their target price on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Guggenheim reiterated a "sell" rating and issued a $724.00 target price on shares of ServiceNow in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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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