ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Prudential PLC

Key Points

• Prudential PLC increased its holdings in ServiceNow, Inc. by 16.7% during the first quarter, now owning 40,657 shares valued at $32,369,000.
• Insiders at ServiceNow, including Jacqueline P. Canney and CFO Gina Mastantuono, sold shares on August 8th, resulting in a decrease of their ownership stakes.
• ServiceNow reported $4.09 EPS for the last quarter, exceeding estimates, with revenue of $3.22 billion, marking a 22.4% increase year-over-year.

Prudential PLC boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 16.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,657 shares of the information technology services provider's stock after purchasing an additional 5,815 shares during the period. Prudential PLC's holdings in ServiceNow were worth $32,369,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of ServiceNow by 1.6% during the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock worth $15,522,335,000 after purchasing an additional 297,734 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of ServiceNow by 3.4% during 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 worth $2,814,433,000 after purchasing an additional 87,876 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of ServiceNow by 4.9% during the fourth quarter. Nuveen Asset Management LLC now owns 2,343,840 shares of the information technology services provider's stock worth $2,484,752,000 after purchasing an additional 109,293 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Up 1.1%

ServiceNow stock traded up $9.39 during midday trading on Wednesday, hitting $862.82. The stock had a trading volume of 2,453,098 shares, compared to its average volume of 1,761,136. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $179.47 billion, a P/E ratio of 108.67, a P/E/G ratio of 3.85 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 business has a fifty day moving average price of $973.65 and a 200 day moving average price of $939.15.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 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 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 posted $3.13 earnings per share. ServiceNow's quarterly revenue was up 22.4% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. DA Davidson raised their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Scotiabank set a $1,100.00 target price on ServiceNow and gave the company an "outperform" rating in a report on Wednesday, May 7th. Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a report on Tuesday, July 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,200.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Finally, UBS Group reduced their target price on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

Insider Buying and Selling

In other 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 transaction of $749,808.50. Following the completion of the transaction, the director directly 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 filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the transaction, the insider owned 3,000 shares of the company's stock, valued at approximately $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,587 shares of company stock valued at $5,584,027 over the last 90 days. 0.38% of the stock is owned by corporate 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.