ServiceNow, Inc. $NOW Shares Sold by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,565 shares of the information technology services provider's stock after selling 3,350 shares during the period. ServiceNow accounts for approximately 2.3% of Quintet Private Bank Europe S.A.'s holdings, making the stock its 9th largest holding. Quintet Private Bank Europe S.A.'s holdings in ServiceNow were worth $39,648,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NOW. Haverford Trust Co boosted its position in shares of ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock worth $936,000 after purchasing an additional 10 shares during the last quarter. Ascent Group LLC lifted its holdings in ServiceNow by 0.5% during the first quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock worth $1,628,000 after acquiring an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. raised its stake in shares of ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after purchasing an additional 11 shares during the period. Integrated Investment Consultants LLC raised its stake in shares of ServiceNow by 2.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after purchasing an additional 11 shares during the period. Finally, one8zero8 LLC raised its stake in shares of ServiceNow by 3.2% in the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock valued at $283,000 after purchasing an additional 11 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the transaction, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares of the company's stock, valued at $10,594,950.60. The trade was a 12.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,976 shares of company stock valued at $17,049,775 in the last three months. Corporate insiders own 0.38% of the company's stock.

ServiceNow Price Performance

NYSE:NOW opened at $930.04 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock's 50-day simple moving average is $927.34 and its 200 day simple moving average is $922.34. The company has a market cap of $193.45 billion, a P/E ratio of 117.13, a P/E/G ratio of 4.18 and a beta of 0.91. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley reissued an "equal weight" rating on shares of ServiceNow in a research note on Tuesday, July 8th. FBN Securities raised ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Piper Sandler lifted their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Barclays set a $1,210.00 price target on ServiceNow in a research note on Thursday, July 24th. Finally, Wells Fargo & Company lifted their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

ServiceNow Company 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.

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