Vaughan Nelson Investment Management L.P. Has $122.26 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Vaughan Nelson Investment Management L.P. lowered its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 21.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 153,568 shares of the information technology services provider's stock after selling 42,468 shares during the period. ServiceNow comprises 1.2% of Vaughan Nelson Investment Management L.P.'s portfolio, making the stock its 24th largest position. Vaughan Nelson Investment Management L.P. owned 0.07% of ServiceNow worth $122,262,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NOW. Quarry LP acquired a new stake in ServiceNow during the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow during the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new position in ServiceNow during the fourth quarter worth $32,000. FPC Investment Advisory Inc. boosted its holdings in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares during the period. Finally, Noble Wealth Management PBC bought a new stake in ServiceNow during the fourth quarter valued at $34,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 248 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,009.14, for a total value of $250,266.72. Following the completion of the transaction, the director now directly owns 10,643 shares in the company, valued at $10,740,277.02. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock worth $6,611,245 over the last ninety days. 0.38% of the stock is currently owned by insiders.

ServiceNow Trading Up 1.7%

NYSE NOW traded up $16.61 on Monday, hitting $1,005.27. 1,229,665 shares of the stock were exchanged, compared to its average volume of 1,482,387. The company's 50-day moving average price is $944.56 and its two-hundred day moving average price is $972.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a market capitalization of $208.07 billion, a price-to-earnings ratio of 147.19, a P/E/G ratio of 4.51 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.41 earnings per share. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. TD Securities reaffirmed a "buy" rating and issued a $1,100.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Cantor Fitzgerald restated an "overweight" rating and issued a $1,048.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Oppenheimer restated an "outperform" rating and set a $1,100.00 price objective (up previously from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. Finally, Redburn Atlantic initiated coverage on ServiceNow in a research note on Wednesday, February 19th. They set a "buy" rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,062.50.

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.