ServiceNow, Inc. (NYSE:NOW) Stake Lessened by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB reduced its holdings in ServiceNow by 0.4% in Q1, owning 241,217 shares worth $192,043,000.
• ServiceNow's stock has a market capitalization of $206.59 billion and has recently traded between a 52-week low of $678.66 and a high of $1,198.09.
• Analysts have a consensus rating of "Moderate Buy" for ServiceNow, with a price target averaging approximately $1,107.94.

Skandinaviska Enskilda Banken AB publ lowered its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 241,217 shares of the information technology services provider's stock after selling 988 shares during the period. ServiceNow comprises approximately 0.9% of Skandinaviska Enskilda Banken AB publ's holdings, making the stock its 18th largest position. Skandinaviska Enskilda Banken AB publ owned about 0.12% of ServiceNow worth $192,043,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. FMR LLC boosted its position in shares of ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after buying an additional 272,506 shares in the last quarter. Geode Capital Management LLC grew its stake in ServiceNow by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after acquiring an additional 100,670 shares during the last quarter. GAMMA Investing LLC grew its stake 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 acquiring an additional 2,686,291 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in ServiceNow by 3.4% during the 4th 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 valued at $2,814,433,000 after acquiring an additional 87,876 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. TD Securities restated a "buy" rating and issued a $1,100.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $1,200.00 price objective on shares of ServiceNow in a research report on Thursday. Stifel Nicolaus upped their target price on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Erste Group Bank reaffirmed a "hold" rating on shares of ServiceNow in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,114.87.

ServiceNow Stock Performance

Shares of NOW traded down $28.13 during trading hours on Friday, reaching $968.05. 1,998,443 shares of the company's stock traded hands, compared to its average volume of 1,429,436. The business's fifty day simple moving average is $1,000.33 and its two-hundred day simple moving average is $952.52. The firm has a market capitalization of $200.37 billion, a price-to-earnings ratio of 121.92, a P/E/G ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.12. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month 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, topping analysts' consensus estimates of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business's revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.13 EPS. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were 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 of the company's stock, valued at $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Chadwick sold 770 shares of ServiceNow stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the transaction, the director owned 3,205 shares in the company, valued at approximately $2,985,842.10. This trade represents a 19.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,003 shares of company stock valued at $6,015,106. Corporate insiders own 0.38% of the company's stock.

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.