ServiceNow, Inc. (NYSE:NOW) Stock Holdings Raised by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. grew its position in ServiceNow, Inc. (NYSE:NOW) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,199 shares of the information technology services provider’s stock after acquiring an additional 1,408 shares during the quarter. ServiceNow comprises about 2.3% of Quintet Private Bank Europe S.A.’s portfolio, making the stock its 10th largest position. Quintet Private Bank Europe S.A.’s holdings in ServiceNow were worth $42,616,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NOW. Truvestments Capital LLC purchased a new stake in shares of ServiceNow in the third quarter valued at $30,000. FPC Investment Advisory Inc. increased its stake in ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after buying an additional 29 shares during the period. Noble Wealth Management PBC purchased a new position in ServiceNow in the 4th quarter worth about $34,000. Heck Capital Advisors LLC purchased a new position in ServiceNow in the 4th quarter worth about $37,000. Finally, Stonebridge Financial Group LLC purchased a new position in ServiceNow in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock worth $20,050,076 in the last three months. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 0.9 %

NYSE:NOW opened at $929.56 on Monday. The company’s 50-day simple moving average is $1,038.07 and its 200-day simple moving average is $983.95. The stock has a market capitalization of $191.49 billion, a P/E ratio of 136.10, a P/E/G ratio of 4.51 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

NOW has been the topic of several recent analyst reports. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Needham & Company LLC raised their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Cantor Fitzgerald initiated coverage on shares of ServiceNow in a research note on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target on the stock. Finally, Piper Sandler raised their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

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.