Vontobel Holding Ltd. Sells 53,912 Shares of ServiceNow, Inc. $NOW

Key Points

• Vontobel Holding Ltd. reduced its stake in ServiceNow, Inc. by 17.8%, selling 53,912 shares during the second quarter, bringing its total holdings to 249,404 shares valued at approximately $256 million.
• Insider transactions revealed that key executives sold significant shares recently, with Paul Fipps and Vice Chairman Nicholas Tzitzon reducing their holdings by 76.06% and 36.43% respectively.
• ServiceNow reported strong quarterly results with an EPS of $4.09, surpassing estimates, and year-over-year revenue growth of 22.4%.

Vontobel Holding Ltd. trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 17.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 249,404 shares of the information technology services provider's stock after selling 53,912 shares during the quarter. Vontobel Holding Ltd. owned 0.12% of ServiceNow worth $256,407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of ServiceNow by 1.6% in the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock valued at $15,522,335,000 after acquiring an additional 297,734 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of ServiceNow by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,843,117 shares of the information technology services provider's stock valued at $2,263,519,000 after acquiring an additional 188,292 shares in the last quarter. Nuveen LLC bought a new stake in shares of ServiceNow in the first quarter valued at about $1,817,535,000. Alliancebernstein L.P. raised its holdings in shares of ServiceNow by 16.2% in the first quarter. Alliancebernstein L.P. now owns 1,732,686 shares of the information technology services provider's stock valued at $1,379,461,000 after acquiring an additional 242,132 shares in the last quarter. Finally, Amundi raised its holdings in shares of ServiceNow by 61.9% in the first quarter. Amundi now owns 1,638,927 shares of the information technology services provider's stock valued at $1,269,777,000 after acquiring an additional 626,623 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Paul Fipps sold 1,452 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $895.05, for a total value of $1,299,612.60. Following the completion of the transaction, the insider directly owned 457 shares of the company's stock, valued at approximately $409,037.85. The trade was a 76.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the completion of the transaction, the insider directly owned 3,000 shares of the company's stock, valued at $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock valued at $16,798,825 over the last quarter. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on NOW shares. Erste Group Bank reiterated a "hold" rating on shares of ServiceNow in a report on Wednesday, July 23rd. JMP Securities reiterated a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Monday, August 4th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,200.00 target price on shares of ServiceNow in a report on Thursday, July 24th. DA Davidson boosted their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Jefferies Financial Group boosted their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,122.20.

ServiceNow Price Performance

Shares of NYSE NOW opened at $914.15 on Thursday. The business's 50 day moving average price is $910.23 and its 200 day moving average price is $930.97. The firm has a market cap of $190.14 billion, a P/E ratio of 115.13, a P/E/G ratio of 4.07 and a beta of 0.92. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. 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 (NYSE:NOW - Get Free Report) last issued its earnings results 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. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow's revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.13 earnings per share. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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.

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