Natixis Advisors LLC Has $222.67 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Natixis Advisors LLC reduced its holdings in ServiceNow, Inc. by 9.2% in the first quarter, owning approximately 0.14% of the company worth $222.67 million after selling 28,276 shares.
• ServiceNow reported earnings of $4.09 EPS for the quarter ending July 23, surpassing analysts' expectations of $3.57, with revenues of $3.22 billion compared to forecasts of $3.12 billion.
• Financial analysts have varying ratings on ServiceNow, with 30 buy ratings, 3 hold ratings, and 1 sell rating, resulting in a consensus price target of $1,115.20.

Natixis Advisors LLC decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 9.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 279,689 shares of the information technology services provider's stock after selling 28,276 shares during the period. Natixis Advisors LLC owned about 0.14% of ServiceNow worth $222,672,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Edgemoor Investment Advisors Inc. increased its position in shares of ServiceNow by 2.5% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $366,000 after purchasing an additional 11 shares during the last quarter. Integrated Investment Consultants LLC increased its position in shares of ServiceNow by 2.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock worth $358,000 after purchasing an additional 11 shares during the last quarter. one8zero8 LLC increased its position in shares of ServiceNow by 3.2% during the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock worth $283,000 after purchasing an additional 11 shares during the last quarter. Capital Investment Advisory Services LLC increased its holdings in shares of ServiceNow by 2.1% during the 1st quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock worth $459,000 after acquiring an additional 12 shares during the last quarter. Finally, Kesler Norman & Wride LLC increased its holdings in shares of ServiceNow by 1.2% during the 4th quarter. Kesler Norman & Wride LLC now owns 1,092 shares of the information technology services provider's stock worth $1,157,000 after acquiring an additional 13 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 145 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $147,900.00. Following the completion of the sale, the insider owned 3,027 shares of the company's stock, valued at approximately $3,087,540. This represents a 4.57% 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, 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 value of $2,074,620.50. Following the sale, the chief executive officer directly owned 6,614 shares of the company's stock, valued at $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,990 shares of company stock valued at $6,047,567. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

NOW has been the topic of a number of recent analyst reports. Robert W. Baird boosted their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. Cantor Fitzgerald reissued an "overweight" rating and set a $1,200.00 target price on shares of ServiceNow in a report on Thursday, July 24th. BMO Capital Markets boosted their price target on ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $1,003.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,115.20.

ServiceNow Price Performance

NOW traded down $34.65 on Thursday, reaching $942.84. The stock had a trading volume of 2,122,595 shares, compared to its average volume of 1,486,271. The company has a market capitalization of $196.11 billion, a price-to-earnings ratio of 118.75, a price-to-earnings-growth ratio of 4.40 and a beta of 0.94. The firm has a 50-day moving average of $996.72 and a 200-day moving average of $951.56. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate 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%. The business's quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.13 earnings per share. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current 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.