Swiss National Bank Sells 900 Shares of ServiceNow, Inc. (NYSE:NOW)

Key Points

• The Swiss National Bank reduced its position in ServiceNow, Inc. by 0.2%, owning 581,000 shares valued at approximately $462.56 million as of its latest SEC filing.
• ServiceNow reported earnings of $4.09 per share, exceeding estimates and showing a 22.4% increase in year-over-year revenue at $3.22 billion.
• Analysts have mixed ratings for ServiceNow, with a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

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

A number of other institutional investors and hedge funds also recently bought and sold shares of NOW. Brighton Jones LLC increased its holdings in shares of ServiceNow by 1.1% in the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after buying an additional 30 shares during the last quarter. FIL Ltd increased its holdings in shares of ServiceNow by 22.0% in the 4th quarter. FIL Ltd now owns 561 shares of the information technology services provider's stock worth $595,000 after buying an additional 101 shares during the last quarter. Texas Yale Capital Corp. increased its holdings in shares of ServiceNow by 0.9% in the 4th quarter. Texas Yale Capital Corp. now owns 2,341 shares of the information technology services provider's stock worth $2,482,000 after buying an additional 20 shares during the last quarter. CenterBook Partners LP increased its holdings in shares of ServiceNow by 380.7% in the 4th quarter. CenterBook Partners LP now owns 3,230 shares of the information technology services provider's stock worth $3,424,000 after buying an additional 2,558 shares during the last quarter. Finally, Scotia Capital Inc. increased its holdings in shares of ServiceNow by 4.4% in the 4th quarter. Scotia Capital Inc. now owns 24,752 shares of the information technology services provider's stock worth $26,241,000 after buying an additional 1,034 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Down 0.8%

Shares of NYSE NOW traded down $7.35 on Monday, reaching $865.16. 744,974 shares of the company traded hands, compared to its average volume of 1,685,579. The company has a 50 day moving average of $982.92 and a 200 day moving average of $942.17. The stock has a market capitalization of $179.95 billion, a PE ratio of 109.02, a P/E/G ratio of 3.93 and a beta of 0.93. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week 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.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) 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 the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. ServiceNow's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the company earned $3.13 earnings per share. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jacqueline P. Canney sold 145 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total transaction of $147,900.00. Following the transaction, the insider directly owned 3,027 shares in the company, valued at $3,087,540. This trade represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lawrence Jackson sold 757 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $990.50, for a total value of $749,808.50. Following the transaction, the director directly owned 588 shares in the company, valued at $582,414. This trade represents a 56.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,250 shares of company stock valued at $5,318,667 over the last three months. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Jefferies Financial Group upped their price target on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wells Fargo & Company upped their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Piper Sandler upped their price target on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Bank of America upped their price target on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Citigroup upped their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

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.