Van Lanschot Kempen Investment Management N.V. Sells 5,311 Shares of ServiceNow, Inc. (NYSE:NOW)

Van Lanschot Kempen Investment Management N.V. decreased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 18.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,914 shares of the information technology services provider's stock after selling 5,311 shares during the quarter. Van Lanschot Kempen Investment Management N.V.'s holdings in ServiceNow were worth $25,352,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in NOW. TD Waterhouse Canada Inc. increased its position in ServiceNow by 81.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 15,895 shares of the information technology services provider's stock worth $16,842,000 after buying an additional 7,146 shares during the period. Tower Research Capital LLC TRC raised its stake in ServiceNow by 193.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 16,137 shares of the information technology services provider's stock worth $17,107,000 after purchasing an additional 10,634 shares in the last quarter. Transatlantique Private Wealth LLC bought a new stake in ServiceNow in the 4th quarter valued at about $565,000. Seaview Investment Managers LLC acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $375,000. Finally, Seldon Capital LP bought a new position in shares of ServiceNow during the fourth quarter worth approximately $218,000. Institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on NOW shares. Jefferies Financial Group lowered their price objective on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company cut their price objective on shares of ServiceNow from $1,250.00 to $1,100.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. dropped their target price on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research report on Tuesday. Citigroup reduced their price target on shares of ServiceNow from $1,426.00 to $1,082.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Redburn Atlantic assumed coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have issued a buy rating to the stock. According to data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and an average price target of $1,021.43.

ServiceNow Trading Up 6.4 %

NOW stock traded up $49.09 during mid-day trading on Wednesday, reaching $815.92. The company's stock had a trading volume of 2,985,419 shares, compared to its average volume of 1,488,813. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The business's 50 day moving average price is $843.99 and its 200 day moving average price is $968.16. The company has a market cap of $168.90 billion, a price-to-earnings ratio of 119.46, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $3.78 by ($1.47). ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has initiated a share buyback program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company's stock, valued at approximately $2,644,564.50. This represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,250 shares of company stock worth $19,853,273 in the last ninety days. Corporate insiders own 0.38% of the company's stock.

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.