ServiceNow, Inc. $NOW Shares Purchased by Thematics Asset Management

Key Points

• Thematics Asset Management increased its holdings in ServiceNow, Inc. by 14.6%, owning 78,116 shares worth approximately $62.19 million, making it the firm's third largest position.
• The company reported a 22.4% increase in revenue year-over-year for the quarter, with EPS of $4.09, exceeding estimates of $3.57.
• Several analysts raised their price targets for ServiceNow, with recent estimates ranging from $1,150.00 to $1,300.00, reflecting strong confidence in the company's performance.

Thematics Asset Management raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,116 shares of the information technology services provider's stock after purchasing an additional 9,925 shares during the quarter. ServiceNow makes up about 3.1% of Thematics Asset Management's investment portfolio, making the stock its 3rd largest position. Thematics Asset Management's holdings in ServiceNow were worth $62,191,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NOW. Vanguard Group Inc. raised its position in shares of ServiceNow by 1.6% during the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock worth $15,522,335,000 after acquiring an additional 297,734 shares during the last quarter. GAMMA Investing LLC raised its position in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of ServiceNow by 3.4% during the fourth 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 worth $2,814,433,000 after acquiring an additional 87,876 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of ServiceNow by 4.9% during the fourth quarter. Nuveen Asset Management LLC now owns 2,343,840 shares of the information technology services provider's stock worth $2,484,752,000 after acquiring an additional 109,293 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of ServiceNow during the first quarter worth $1,817,535,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Trading Up 2.8%

NYSE:NOW traded up $24.16 on Wednesday, reaching $888.82. The company's stock had a trading volume of 1,200,720 shares, compared to its average volume of 1,710,319. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $184.87 billion, a PE ratio of 111.94, a PEG ratio of 3.97 and a beta of 0.93. The business's 50-day moving average price is $949.76 and its two-hundred day moving average price is $927.07.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results 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 return on equity of 18.04% and a net margin of 13.78%.The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the previous year, the firm earned $3.13 earnings per share. The company's revenue was up 22.4% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent research reports. Erste Group Bank restated a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. DA Davidson upped their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Needham & Company LLC upped their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Bank of America upped their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Guggenheim reiterated a "sell" rating and issued a $724.00 price objective on shares of ServiceNow in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 1,562 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares of the company's stock, valued at $2,622,744.15. This represents a 34.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer directly owned 12,228 shares of the company's stock, valued at $10,594,950.60. This represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,668 shares of company stock valued at $14,373,737 over the last ninety days. Company 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.