BNP Paribas Has $36.77 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

BNP Paribas cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,606 shares of the information technology services provider’s stock after selling 429 shares during the period. ServiceNow makes up 1.5% of BNP Paribas’ investment portfolio, making the stock its 18th biggest holding. BNP Paribas’ holdings in ServiceNow were worth $36,773,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow in the first quarter worth $25,000. Versant Capital Management Inc boosted its holdings in ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 28 shares during the period. EntryPoint Capital LLC grew its position in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 39 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of ServiceNow in the third quarter worth about $30,000. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow during the 2nd quarter worth about $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Up 1.6 %

Shares of NYSE:NOW opened at $1,070.07 on Wednesday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,072.84. The company’s 50-day moving average price is $955.40 and its two-hundred day moving average price is $841.01. The firm has a market cap of $220.43 billion, a P/E ratio of 166.42, a P/E/G ratio of 6.04 and a beta of 0.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 EPS. As a group, research analysts forecast that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

Insider Activity

In related news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the sale, the director now directly owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,787 shares of company stock valued at $17,841,028 over the last 90 days. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NOW. KeyCorp boosted their target price on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. JMP Securities upped their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a research report on Thursday, October 17th. Scotiabank started coverage on ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Piper Sandler boosted their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $989.07.

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.