ServiceNow, Inc. (NYSE:NOW) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,782 shares of the information technology services provider's stock after selling 2,053 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in ServiceNow were worth $31,985,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOW. GAMMA Investing LLC raised its position in ServiceNow by 87,501.3% in 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. Norges Bank purchased a new position in ServiceNow during the 4th quarter worth $2,603,360,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in ServiceNow by 1,586.5% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock worth $742,965,000 after buying an additional 877,875 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 worth $8,434,235,000 after buying an additional 509,467 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in ServiceNow by 36.7% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock worth $1,940,464,000 after buying an additional 491,861 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Trading Down 2.8%

Shares of ServiceNow stock traded down $28.13 during mid-day trading on Friday, hitting $968.05. 1,998,443 shares of the stock were exchanged, compared to its average volume of 1,429,436. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a market capitalization of $200.37 billion, a price-to-earnings ratio of 121.92, a price-to-earnings-growth ratio of 4.43 and a beta of 0.94. The company has a 50-day simple moving average of $1,000.33 and a 200 day simple moving average of $952.52. The company has a current ratio of 1.09, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14.

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, topping the consensus estimate of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the company earned $3.13 earnings per share. The company's quarterly revenue was up 22.4% on a year-over-year basis. Research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 145 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $147,900.00. Following the sale, the insider directly owned 3,027 shares of the company's stock, valued at approximately $3,087,540. This trade represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction 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 $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,003 shares of company stock valued at $6,015,106. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Thursday. Morgan Stanley restated an "equal weight" rating on shares of ServiceNow in a research report on Tuesday, July 8th. Citigroup upped their price objective on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a research report on Thursday. Guggenheim restated a "sell" rating and set a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. Finally, Erste Group Bank restated a "hold" rating on shares of ServiceNow in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,114.87.

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.