ServiceNow, Inc. $NOW Shares Acquired by Cardano Risk Management B.V.

Key Points

• Cardano Risk Management increased its ServiceNow stake by 6.9% in the second quarter, adding 31,119 shares to own 484,785 shares valued at approximately $48.1 million. Institutional investors collectively hold 87.18% of ServiceNow’s stock.
• ServiceNow exceeded quarterly expectations, reporting adjusted earnings of $0.90 per share versus the $0.86 consensus estimate and revenue of $3.99 billion, up 24% year over year.
• Shares opened at $124.91, while analysts maintained an overall “Moderate Buy” rating with an average price target of $143.39; insiders sold 18,993 shares worth about $1.72 million over the prior 90 days.

Cardano Risk Management B.V. boosted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 484,785 shares of the information technology services provider's stock after buying an additional 31,119 shares during the period. Cardano Risk Management B.V.'s holdings in ServiceNow were worth $48,129,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider's stock valued at $15,619,771,000 after purchasing an additional 81,752,460 shares in the last quarter. State Street Corp increased its position in shares of ServiceNow by 406.6% during the 4th quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider's stock valued at $7,337,280,000 after purchasing an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of ServiceNow by 371.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider's stock worth $4,962,692,000 after buying an additional 25,517,218 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of ServiceNow by 404.8% in the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider's stock worth $3,591,425,000 after buying an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of ServiceNow by 335.6% in the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider's stock valued at $3,482,543,000 after buying an additional 17,514,679 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 1,500 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the completion of the transaction, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the completion of the transaction, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This trade represents a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 18,993 shares of company stock valued at $1,716,436. 0.34% of the stock is currently owned by corporate insiders.

ServiceNow Trading Up 6.4%

Shares of NYSE NOW opened at $124.91 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The company has a market cap of $129.16 billion, a price-to-earnings ratio of 78.07, a P/E/G ratio of 2.20 and a beta of 0.94. The business has a fifty day simple moving average of $106.73 and a 200-day simple moving average of $105.86.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.04. The firm had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.93 billion. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.ServiceNow's revenue was up 24.0% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 2.24 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Canaccord Genuity Group decreased their target price on ServiceNow from $200.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Wolfe Research set a $125.00 price target on shares of ServiceNow in a research report on Thursday, April 23rd. Sanford C. Bernstein restated an "outperform" rating and set a $248.00 price objective (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. Barclays reaffirmed an "overweight" rating and issued a $134.00 price objective (up from $132.00) on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, UBS Group set a $248.00 target price on shares of ServiceNow in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average target price of $143.39.

ServiceNow Company Profile

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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