Banco Santander S.A. Reduces Holdings in ServiceNow, Inc. (NYSE:NOW)

Banco Santander S.A. lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 27.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,248 shares of the information technology services provider’s stock after selling 11,716 shares during the quarter. Banco Santander S.A.’s holdings in ServiceNow were worth $27,948,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NOW. L & S Advisors Inc boosted its position in shares of ServiceNow by 265.5% during the 3rd quarter. L & S Advisors Inc now owns 12,032 shares of the information technology services provider’s stock worth $10,761,000 after purchasing an additional 8,740 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in ServiceNow by 11.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,298 shares of the information technology services provider’s stock worth $1,449,178,000 after acquiring an additional 167,847 shares during the last quarter. Trustmark National Bank Trust Department boosted its position in shares of ServiceNow by 96.4% during the 3rd quarter. Trustmark National Bank Trust Department now owns 1,591 shares of the information technology services provider’s stock worth $1,423,000 after acquiring an additional 781 shares in the last quarter. Overbrook Management Corp increased its holdings in shares of ServiceNow by 3.0% in the 3rd quarter. Overbrook Management Corp now owns 10,843 shares of the information technology services provider’s stock valued at $9,698,000 after acquiring an additional 317 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of ServiceNow by 17.1% during the 3rd quarter. Intech Investment Management LLC now owns 7,483 shares of the information technology services provider’s stock worth $6,693,000 after acquiring an additional 1,095 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NOW shares. KeyCorp increased their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Royal Bank of Canada lifted their price target on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler raised their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Mizuho upped their price objective on ServiceNow from $980.00 to $1,070.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Wells Fargo & Company lifted their target price on ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $986.39.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Russell S. Elmer sold 81 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total transaction of $82,339.74. Following the transaction, the general counsel now directly owns 6,843 shares of the company’s stock, valued at $6,956,183.22. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,373 shares of company stock worth $7,139,335. 0.25% of the stock is owned by company insiders.

ServiceNow Price Performance

ServiceNow stock opened at $1,030.00 on Thursday. The stock has a 50-day moving average price of $941.65 and a two-hundred day moving average price of $830.81. The company has a market capitalization of $212.18 billion, a PE ratio of 159.10, a P/E/G ratio of 5.87 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,061.66. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. Analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current year.

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.