Union Bancaire Privee UBP SA Increases Stock Holdings in ServiceNow, Inc. $NOW

Key Points

• Union Bancaire Privee UBP SA increased its stake in ServiceNow, Inc. by 4.5% during the 2nd quarter, owning 57,931 shares valued at approximately $55.46 million.
• Brokerage firms are optimistic about ServiceNow, with Morgan Stanley upgrading the stock to an "overweight" rating and raising its target price from $1,040 to $1,250.
• In recent insider transactions, ServiceNow's Vice Chairman sold 1,719 shares, marking a decrease in his position by 36.43%.

Union Bancaire Privee UBP SA boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,931 shares of the information technology services provider's stock after purchasing an additional 2,504 shares during the quarter. ServiceNow makes up approximately 1.1% of Union Bancaire Privee UBP SA's holdings, making the stock its 25th largest holding. Union Bancaire Privee UBP SA's holdings in ServiceNow were worth $55,463,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOW. Global X Japan Co. Ltd. acquired a new position in shares of ServiceNow in the 2nd quarter worth approximately $30,000. Bogart Wealth LLC grew its position 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 worth $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow in the 1st quarter worth approximately $26,000. WASHINGTON TRUST Co grew its position in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 31 shares in the last quarter. Finally, Dagco Inc. acquired a new position in shares of ServiceNow in the 1st quarter worth approximately $33,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOW. Morgan Stanley upgraded ServiceNow from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $1,040.00 to $1,250.00 in a research report on Wednesday, September 24th. Erste Group Bank reiterated a "hold" rating on shares of ServiceNow in a research report on Wednesday, July 23rd. Raymond James Financial boosted their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Guggenheim restated a "sell" rating and set a $724.00 price objective on shares of ServiceNow in a research report on Thursday, July 17th. Finally, JMP Securities restated a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average target price of $1,122.20.

Insider Transactions at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of ServiceNow stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the sale, the insider directly owned 3,000 shares in the company, valued at $2,599,350. The trade was a 36.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the transaction, the general counsel owned 4,332 shares in the company, valued at $3,830,614.32. This represents a 28.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,976 shares of company stock valued at $17,049,775. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Up 0.4%

Shares of ServiceNow stock opened at $940.05 on Tuesday. The stock's fifty day moving average is $919.33 and its 200-day moving average is $928.48. The firm has a market capitalization of $195.53 billion, a PE ratio of 118.39, a price-to-earnings-growth ratio of 4.22 and a beta of 0.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. 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 announced its quarterly earnings data 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 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 the consensus estimate of $3.12 billion. During the same period in the prior year, the business earned $3.13 EPS. The business's revenue for the quarter was up 22.4% on a year-over-year basis. Equities 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.

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