ServiceNow, Inc. $NOW Shares Sold by Van Lanschot Kempen Investment Management N.V.

Key Points

• Van Lanschot Kempen Investment Management N.V. reduced its holdings in ServiceNow by 60.1% during the first quarter, now owning 9,550 shares valued at $7.6 million.
• Several institutional investors are increasing their stakes, with Janus Henderson Group PLC lifting its position by 1.5% to 824,725 shares valued at $874.3 million.
• ServiceNow reported earnings of $4.09 per share, exceeding analyst expectations and showing a 22.4% year-over-year revenue growth.

Van Lanschot Kempen Investment Management N.V. trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 60.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,550 shares of the information technology services provider's stock after selling 14,364 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in ServiceNow were worth $7,603,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its position in shares of ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock valued at $874,258,000 after acquiring an additional 12,533 shares in the last quarter. Parr Mcknight Wealth Management Group LLC acquired a new position in ServiceNow in the 1st quarter valued at about $1,820,000. Corient IA LLC acquired a new position in ServiceNow in the 1st quarter valued at about $796,000. ASR Vermogensbeheer N.V. purchased a new position in ServiceNow in the 1st quarter valued at about $19,278,000. Finally, Nicholas Investment Partners LP boosted its stake in shares of ServiceNow by 223.5% during the 4th quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock worth $2,974,000 after purchasing an additional 1,938 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. JMP Securities reissued a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. Erste Group Bank restated a "hold" rating on shares of ServiceNow in a report on Wednesday, July 23rd. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a research note on Wednesday, June 11th. Finally, JPMorgan Chase & Co. decreased their price target on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

ServiceNow Stock Performance

ServiceNow stock opened at $887.4020 on Wednesday. The company has a market cap of $184.58 billion, a price-to-earnings ratio of 111.76, a price-to-earnings-growth ratio of 4.02 and a beta of 0.93. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock's 50-day moving average is $961.85 and its 200-day moving average is $931.84.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm had revenue of $3.22 billion during 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 company's revenue was up 22.4% on a year-over-year basis. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the completion of the sale, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. This represents a 36.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,361 shares of company stock worth $10,579,976. 0.38% of the stock is owned by company insiders.

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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