Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Stake in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in ServiceNow, Inc. by 9.5%, holding 33,456 shares worth approximately $26.6 million after selling 3,500 shares in the first quarter.
• Insider transactions included Jacqueline P. Canney and CFO Gina Mastantuono selling shares at an average price of $878.39, reflecting a decrease in their holdings by 7.83% and 2.47%, respectively.
• ServiceNow's quarterly earnings report exceeded expectations with a net profit margin of 13.78% and revenue of $3.22 billion, showcasing a 22.4% year-over-year increase.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,456 shares of the information technology services provider's stock after selling 3,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in ServiceNow were worth $26,636,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NOW. Janus Henderson Group PLC increased its stake in ServiceNow by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after purchasing an additional 12,533 shares during the period. Parr Mcknight Wealth Management Group LLC purchased a new position in ServiceNow in the 1st quarter worth approximately $1,820,000. ASR Vermogensbeheer N.V. purchased a new position in ServiceNow in the 1st quarter worth approximately $19,278,000. Nicholas Investment Partners LP increased its stake in ServiceNow by 223.5% in 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 period. Finally, Goldman Sachs Group Inc. increased its stake in ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock worth $1,178,706,000 after purchasing an additional 840,731 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Insider Activity at ServiceNow

In related news, Director Anita M. Sands sold 239 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the completion of the sale, the director owned 10,404 shares in the company, valued at approximately $10,924,200. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the sale, the insider owned 3,000 shares of the company's stock, valued at approximately $3,060,000. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,738 shares of company stock valued at $5,713,973 in the last 90 days. 0.38% of the stock is owned by company insiders.

ServiceNow Stock Down 1.5%

Shares of NOW stock traded down $12.81 during mid-day trading on Thursday, hitting $850.49. The company's stock had a trading volume of 1,784,168 shares, compared to its average volume of 1,834,557. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The business has a 50-day moving average price of $970.30 and a 200 day moving average price of $937.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market cap of $176.90 billion, a price-to-earnings ratio of 107.12, a PEG ratio of 3.89 and a beta of 0.93.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. ServiceNow's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.13 earnings per share. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays set a $1,210.00 price objective on ServiceNow in a research report on Thursday, July 24th. Stifel Nicolaus lifted their price objective on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Wells Fargo & Company lifted their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Evercore ISI lifted their price objective on ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Robert W. Baird lifted their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,115.20.

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.