Mizuho Securities USA LLC Has $13.13 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Mizuho Securities USA LLC has reduced its holdings in ServiceNow by 15.5%, now owning 16,494 shares valued at approximately $13.1 million.
• Several institutional investors have also adjusted their positions, with 87.18% of the company's stock owned by institutional investors.
• In recent transactions, insiders have sold a total of 5,250 shares of ServiceNow stock, indicating a 56.28% decrease in Director Lawrence Jackson's ownership following a sale.

Mizuho Securities USA LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 15.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,494 shares of the information technology services provider's stock after selling 3,030 shares during the quarter. Mizuho Securities USA LLC's holdings in ServiceNow were worth $13,132,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. GAMMA Investing LLC boosted its stake in ServiceNow by 87,501.3% in the first 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 period. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of ServiceNow by 1,586.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock valued at $742,965,000 after buying an additional 877,875 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock valued at $1,178,706,000 after buying an additional 840,731 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 acquiring an additional 509,467 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of 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 acquiring an additional 491,861 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NOW traded down $4.74 during mid-day trading on Tuesday, hitting $851.63. 1,749,293 shares of the company traded hands, compared to its average volume of 1,696,877. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. 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 business has a 50-day moving average of $979.82 and a 200 day moving average of $940.29. The stock has a market capitalization of $177.14 billion, a price-to-earnings ratio of 107.40, a PEG ratio of 3.93 and a beta of 0.93.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the firm earned $3.13 earnings per share. The business's revenue for the quarter was up 22.4% on a year-over-year basis. As a group, equities analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Robert W. Baird lifted their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of ServiceNow from a "hold" rating to a "buy" rating in a report on Tuesday, July 29th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,200.00 price objective on shares of ServiceNow in a report on Thursday, July 24th. Oppenheimer reissued an "outperform" rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Finally, DA Davidson upped their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the transaction, the director directly owned 10,891 shares of the company's stock, valued at approximately $11,039,226.51. This trade represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction 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 owned 6,614 shares in the company, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,587 shares of company stock valued at $5,584,027. 0.38% of the stock is currently owned by company 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.