Union Bancaire Privee UBP SA Buys 7,865 Shares of ServiceNow, Inc. (NYSE:NOW)

Union Bancaire Privee UBP SA increased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 16.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,427 shares of the information technology services provider's stock after acquiring an additional 7,865 shares during the period. ServiceNow comprises about 1.0% of Union Bancaire Privee UBP SA's holdings, making the stock its 29th largest holding. Union Bancaire Privee UBP SA's holdings in ServiceNow were worth $43,220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of ServiceNow by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after acquiring an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. FMR LLC raised its position in ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Geode Capital Management LLC raised its position in ServiceNow by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after purchasing an additional 100,670 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in ServiceNow by 87,501.3% during the 1st 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 purchasing an additional 2,686,291 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Insider Activity

In other news, Director Anita M. Sands sold 248 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total transaction of $250,266.72. Following the transaction, the director now directly owns 10,643 shares of the company's stock, valued at $10,740,277.02. This represents a 2.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $63,426.00. Following the transaction, the general counsel now directly owns 4,332 shares in the company, valued at $4,431,636. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock valued at $6,611,245 in the last ninety days. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NOW. BMO Capital Markets upped their price target on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Citigroup upped their price target on ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Mizuho upped their target price on ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Truist Financial upgraded ServiceNow from a "hold" rating to a "buy" rating and upped their target price for the stock from $950.00 to $1,200.00 in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,062.50.

ServiceNow Stock Down 2.0%

NOW stock traded down $19.66 during midday trading on Friday, hitting $987.71. The company's stock had a trading volume of 1,332,159 shares, compared to its average volume of 1,483,399. The company has a market cap of $204.44 billion, a PE ratio of 144.61, a P/E/G ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm's 50-day moving average is $944.56 and its 200-day moving average is $972.50.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company's revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.41 EPS. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.