Triglav Skladi D.O.O. Has $3.50 Million Position in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Triglav Skladi D.O.O. significantly reduced its stake in ServiceNow, Inc. by 56.4%, owning only 4,400 shares worth approximately $3.5 million after selling 5,700 shares in the first quarter.
• ServiceNow's quarterly earnings showed a positive trend with an EPS of $4.09, surpassing analyst expectations, and a revenue of $3.22 billion, reflecting a year-over-year increase of 22.4%.
• The stock received various ratings from analysts, with BMO Capital Markets raising its price target to $1,160 and a mix of buy, hold, and sell ratings from different firms, leading to a consensus rating of "Moderate Buy."

Triglav Skladi D.O.O. cut its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 56.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,400 shares of the information technology services provider's stock after selling 5,700 shares during the quarter. Triglav Skladi D.O.O.'s holdings in ServiceNow were worth $3,503,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC grew its position in ServiceNow by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after purchasing an additional 12,533 shares during the last quarter. Parr Mcknight Wealth Management Group LLC acquired a new stake in ServiceNow in the 1st quarter worth $1,820,000. ASR Vermogensbeheer N.V. acquired a new stake in ServiceNow in the 1st quarter worth $19,278,000. Nicholas Investment Partners LP grew its position in ServiceNow by 223.5% in the 4th quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock worth $2,974,000 after purchasing an additional 1,938 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of ServiceNow by 131.4% during the 1st 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 acquiring an additional 840,731 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Bank of America lifted their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research report 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 company an "overweight" rating in a research report on Thursday, July 24th. Erste Group Bank restated a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Finally, FBN Securities upgraded shares of ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. 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 issued a strong buy rating to the company. According to data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

Insider Activity at ServiceNow

In related news, CFO Gina Mastantuono sold 84 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $860.57, for a total value of $72,287.88. Following the completion of the transaction, the chief financial officer owned 11,572 shares of the company's stock, valued at approximately $9,958,516.04. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $749,808.50. Following the completion of the transaction, the director directly owned 588 shares of the company's stock, valued at approximately $582,414. This trade represents a 56.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,738 shares of company stock valued at $5,713,973 over the last three months. Insiders own 0.38% of the company's stock.

ServiceNow Trading Down 1.5%

Shares of NOW traded down $12.81 on Thursday, reaching $850.49. 1,784,168 shares of the company's stock were exchanged, compared to its average volume of 1,834,557. 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 stock has a market capitalization of $176.90 billion, a P/E ratio of 107.12, a price-to-earnings-growth ratio of 3.89 and a beta of 0.93. The business has a 50 day moving average price of $973.65 and a two-hundred day moving average price of $939.15. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 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 business had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the prior year, the company earned $3.13 EPS. The firm's quarterly revenue was up 22.4% on a year-over-year basis. Research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.