ServiceNow, Inc. $NOW Shares Bought by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its stake in ServiceNow, Inc. by 45.9% in Q1, holding 20,837 shares valued at approximately $16.6 million, as reported in their Form 13F filing.
• ServiceNow's quarterly earnings exceeded expectations, with earnings per share of $4.09, surpassing the forecast of $3.57, and revenues of $3.22 billion, showing a year-over-year growth of 22.4%.
• The stock has a market cap of $193.19 billion, with a one-year price range between $678.66 and $1,198.09, indicating high volatility and potential for growth.

Vident Advisory LLC boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 45.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,837 shares of the information technology services provider's stock after acquiring an additional 6,554 shares during the period. Vident Advisory LLC's holdings in ServiceNow were worth $16,589,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of ServiceNow by 1.6% in the first 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 buying an additional 297,734 shares during the last quarter. GAMMA Investing LLC raised 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 valued at $2,141,108,000 after buying an additional 2,686,291 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 buying an additional 87,876 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of ServiceNow by 4.9% in 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 buying an additional 109,293 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of ServiceNow in the first quarter valued at approximately $1,817,535,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

ServiceNow stock opened at $928.80 on Friday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The firm has a 50 day moving average price of $946.91 and a 200 day moving average price of $926.16. The company has a market cap of $193.19 billion, a price-to-earnings ratio of 116.98, a PEG ratio of 4.01 and a beta of 0.93. 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 (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 (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 company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the firm earned $3.13 earnings per share. ServiceNow's revenue for the quarter was up 22.4% on a year-over-year basis. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,698 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the sale, the general counsel directly owned 4,332 shares in the company, valued at $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 1,562 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the sale, the insider owned 3,027 shares of the company's stock, valued at approximately $2,622,744.15. This represents a 34.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,302 shares of company stock valued at $10,956,796 over the last quarter. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

NOW has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Bank of America boosted their price objective on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Guggenheim reissued a "sell" rating and issued a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. Needham & Company LLC boosted their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Morgan Stanley restated an "equal weight" rating on shares of ServiceNow in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,115.20.

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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