Swiss National Bank Cuts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Swiss National Bank cut its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 0.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 581,000 shares of the information technology services provider's stock after selling 900 shares during the quarter. Swiss National Bank owned approximately 0.28% of ServiceNow worth $462,557,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Bogart Wealth LLC boosted its stake in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in ServiceNow in the first quarter worth $26,000. Quarry LP purchased a new stake in ServiceNow during the fourth quarter valued at about $27,000. WASHINGTON TRUST Co grew its stake in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after buying an additional 31 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new position in shares of ServiceNow during the fourth quarter valued at about $37,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $872.31 on Friday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The firm's 50-day moving average is $985.72 and its 200 day moving average is $946.30. The stock has a market cap of $181.44 billion, a price-to-earnings ratio of 109.86, a PEG ratio of 4.11 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued 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 firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the firm posted $3.13 earnings per share. The business's revenue was up 22.4% on a year-over-year basis. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NOW shares. Canaccord Genuity Group lowered their target price on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Oppenheimer reiterated an "outperform" rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. Barclays set a $1,210.00 price objective on ServiceNow in a research note on Thursday, July 24th. Piper Sandler lifted their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Robert W. Baird increased their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. One investment 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 stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

Insider Buying and Selling

In other ServiceNow news, 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 sale, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 145 shares of ServiceNow stock in a transaction on 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 directly owned 3,027 shares of the company's stock, valued at approximately $3,087,540. The trade was a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,250 shares of company stock worth $5,318,667 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

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.

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