ServiceNow, Inc. $NOW Shares Sold by Banque Transatlantique SA

Banque Transatlantique SA reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 74.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,360 shares of the information technology services provider’s stock after selling 40,904 shares during the period. Banque Transatlantique SA’s holdings in ServiceNow were worth $10,565,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NOW. 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 valued at $25,000 after buying an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow during the first quarter valued at approximately $26,000. WASHINGTON TRUST Co raised its holdings in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 31 shares during the last quarter. Dagco Inc. bought a new stake in shares of ServiceNow during the first quarter valued at approximately $33,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider owned 3,000 shares of the company’s stock, valued at approximately $2,599,350. This represents a 36.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the transaction, the chief executive officer owned 6,614 shares in the company, valued at approximately $6,062,590.82. The trade was a 46.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,976 shares of company stock valued at $17,049,775 in the last three months. Insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $912.93 on Wednesday. The stock has a market capitalization of $189.89 billion, a P/E ratio of 114.98, a P/E/G ratio of 4.14 and a beta of 0.91. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The business’s fifty day moving average is $943.00 and its two-hundred day moving average is $924.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.13 earnings per share. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NOW shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,200.00 price target on shares of ServiceNow in a report on Thursday, July 24th. Wall Street Zen cut ServiceNow from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup lifted their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Scotiabank set a $1,100.00 target price on ServiceNow and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Finally, Oppenheimer reissued an “outperform” rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,115.20.

About ServiceNow

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.