ServiceNow, Inc. (NYSE:NOW) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,677 shares of the information technology services provider’s stock after selling 2,590 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in ServiceNow were worth $15,314,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NOW. International Assets Investment Management LLC raised its holdings in ServiceNow by 69,354.6% during the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after purchasing an additional 820,465 shares in the last quarter. FMR LLC raised its holdings in ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after purchasing an additional 595,697 shares in the last quarter. Jennison Associates LLC raised its holdings in ServiceNow by 23.0% during the third quarter. Jennison Associates LLC now owns 2,467,471 shares of the information technology services provider’s stock worth $1,379,217,000 after purchasing an additional 461,614 shares in the last quarter. Cerity Partners LLC raised its holdings in ServiceNow by 1,073.7% during the fourth quarter. Cerity Partners LLC now owns 406,262 shares of the information technology services provider’s stock worth $287,020,000 after purchasing an additional 371,648 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in ServiceNow in the third quarter valued at about $135,075,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NOW shares. Needham & Company LLC restated a “buy” rating and issued a $900.00 price target on shares of ServiceNow in a research report on Thursday. Oppenheimer raised their target price on shares of ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Truist Financial boosted their target price on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Guggenheim restated a “neutral” rating on shares of ServiceNow in a report on Monday, April 15th. Finally, Robert W. Baird boosted their target price on shares of ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and a consensus target price of $782.85.

ServiceNow Stock Up 0.9 %

NOW traded up $6.69 during trading on Friday, hitting $722.94. The company had a trading volume of 1,445,813 shares, compared to its average volume of 1,216,659. The company has a market cap of $148.48 billion, a PE ratio of 77.32, a P/E/G ratio of 4.72 and a beta of 0.97. The business has a 50-day moving average of $760.05 and a 200-day moving average of $706.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06. ServiceNow, Inc. has a 1-year low of $427.68 and a 1-year high of $815.32.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. ServiceNow had a net margin of 20.34% and a return on equity of 14.00%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. As a group, analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Paul John Smith sold 1,795 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now owns 994 shares in the company, valued at approximately $776,373.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock valued at $9,940,303 over the last ninety days. Corporate insiders own 0.25% 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.