XTX Topco Ltd Lowers Holdings in ServiceNow, Inc. (NYSE:NOW)

Key Points

• XTX Topco Ltd reduced its holdings in ServiceNow, Inc. by 17.3%, selling 423 shares and retaining 2,024 shares valued at approximately $1.6 million.
• ServiceNow reported earnings of $4.09 per share for the last quarter, exceeding analysts' estimates, with a year-over-year revenue growth of 22.4%.
• Insiders have sold a total of 5,990 shares of ServiceNow stock in the last 90 days, reflecting significant turnover in ownership among key company figures.

XTX Topco Ltd reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,024 shares of the information technology services provider's stock after selling 423 shares during the quarter. XTX Topco Ltd's holdings in ServiceNow were worth $1,611,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bogart Wealth LLC raised its holdings in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new position in ServiceNow in the 1st quarter valued at about $26,000. Quarry LP bought a new position in ServiceNow in the 4th quarter valued at about $27,000. WASHINGTON TRUST Co grew its stake 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 purchasing an additional 31 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in shares of ServiceNow during the 4th quarter worth $37,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

ServiceNow stock traded down $29.09 during mid-day trading on Friday, hitting $914.03. 1,810,388 shares of the company's stock traded hands, compared to its average volume of 1,532,572. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $190.12 billion, a price-to-earnings ratio of 115.12, a P/E/G ratio of 4.12 and a beta of 0.93. The firm has a 50 day simple moving average of $994.89 and a two-hundred day simple moving average of $950.76.

ServiceNow (NYSE:NOW - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the previous year, the business posted $3.13 earnings per share. The business's revenue for the quarter was up 22.4% on a year-over-year basis. On average, research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NOW shares. BMO Capital Markets raised their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Sanford C. Bernstein reissued an "outperform" rating and issued a $1,003.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Stifel Nicolaus raised their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Mizuho raised their price objective on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Finally, FBN Securities raised shares of ServiceNow to a "strong-buy" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,115.20.

Insider Transactions at ServiceNow

In other news, CFO Gina Mastantuono sold 292 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $287,620.00. Following the transaction, the chief financial officer owned 11,198 shares of the company's stock, valued at $11,030,030. This represents a 2.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer directly owned 6,614 shares in the company, valued at $6,693,434.14. This trade represents a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,990 shares of company stock valued at $6,047,567. 0.38% of the stock is owned by insiders.

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.