Sarasin & Partners LLP Lowers Position in ServiceNow, Inc. (NYSE:NOW)

Sarasin & Partners LLP reduced its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 48.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,247 shares of the information technology services provider's stock after selling 22,282 shares during the quarter. Sarasin & Partners LLP's holdings in ServiceNow were worth $20,792,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NOW. Vanguard Group Inc. boosted its holdings in shares of ServiceNow by 1.8% during the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider's stock worth $14,066,715,000 after purchasing an additional 331,797 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in ServiceNow by 18.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider's stock worth $1,239,198,000 after buying an additional 271,153 shares during the period. Bank of New York Mellon Corp grew its position in shares of ServiceNow by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider's stock worth $1,203,157,000 after buying an additional 34,855 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of ServiceNow by 7.5% during the fourth quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider's stock valued at $1,023,315,000 after buying an additional 101,485 shares during the period. Finally, Swedbank AB raised its holdings in shares of ServiceNow by 10.3% during the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider's stock valued at $1,021,666,000 after acquiring an additional 120,983 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Stock Down 0.6 %

Shares of NOW stock traded down $6.04 during mid-day trading on Friday, hitting $938.59. The company's stock had a trading volume of 839,711 shares, compared to its average volume of 1,280,261. The stock has a market cap of $193.35 billion, a price-to-earnings ratio of 170.56, a PEG ratio of 5.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $949.00. The business has a 50-day moving average price of $858.21 and a 200 day moving average price of $785.04.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.61 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The business's revenue for the quarter was up 22.2% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now directly owns 11,490 shares of the company's stock, valued at $9,479,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Gina Mastantuono sold 1,800 shares of the company's stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on NOW. Evercore ISI boosted their price objective on shares of ServiceNow from $850.00 to $950.00 and gave the company an "outperform" rating in a research report on Wednesday. KeyCorp decreased their price target on shares of ServiceNow from $950.00 to $920.00 and set an "overweight" rating for the company in a research note on Tuesday, July 2nd. Stifel Nicolaus lifted their price objective on ServiceNow from $820.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. UBS Group increased their target price on ServiceNow from $900.00 to $1,055.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Citigroup lifted their price target on ServiceNow from $909.00 to $911.00 and gave the company a "buy" rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $880.04.

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.