ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in ServiceNow by 1.6% during Q1, holding approximately 19.5 million shares valued at about $15.5 billion.
• ServiceNow reported $4.09 EPS for the last quarter, surpassing analysts' expectations of $3.57, with a revenue of $3.22 billion, which is a 22.4% increase year-over-year.
• As of now, approximately 87.18% of ServiceNow's stock is owned by institutional investors, indicating strong institutional interest in the company.

Vanguard Group Inc. boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,496,992 shares of the information technology services provider's stock after buying an additional 297,734 shares during the period. Vanguard Group Inc. owned approximately 9.42% of ServiceNow worth $15,522,335,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Bogart Wealth LLC increased its holdings in shares of ServiceNow by 113.3% in the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. purchased a new position in shares of ServiceNow in the first quarter worth about $26,000. Quarry LP purchased a new position in shares of ServiceNow in the fourth quarter worth about $27,000. WASHINGTON TRUST Co increased its holdings in shares of ServiceNow by 620.0% in the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after buying an additional 31 shares during the period. Finally, Heck Capital Advisors LLC purchased a new position in shares of ServiceNow in the fourth quarter worth about $37,000. Institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NOW. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,200.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. Sanford C. Bernstein restated an "outperform" rating and set a $1,003.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Wells Fargo & Company boosted their price target on ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Bank of America boosted their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Guggenheim reiterated a "sell" rating and set a $724.00 target price on shares of ServiceNow in a report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

ServiceNow Trading Down 0.3%

NOW traded down $2.42 on Friday, hitting $871.70. The company had a trading volume of 1,901,339 shares, compared to its average volume of 1,665,573. The company has a market cap of $181.31 billion, a PE ratio of 109.79, a PEG ratio of 3.93 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 quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business's fifty day simple moving average is $982.92 and its 200 day simple moving average is $943.49.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the business earned $3.13 earnings per share. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. Equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling at ServiceNow

In related news, Director Lawrence Jackson sold 757 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $990.50, for a total value of $749,808.50. Following the completion of the sale, the director owned 588 shares in the company, valued at approximately $582,414. The trade was a 56.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the company's 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 sale, the chief executive officer owned 6,614 shares of the company's stock, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,250 shares of company stock valued at $5,318,667. 0.38% of the stock is owned by company insiders.

ServiceNow 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.