Vaughan Nelson Investment Management L.P. Has $122.26 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Vaughan Nelson Investment Management L.P. lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 21.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 153,568 shares of the information technology services provider’s stock after selling 42,468 shares during the period. ServiceNow accounts for 1.2% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 24th biggest holding. Vaughan Nelson Investment Management L.P. owned about 0.07% of ServiceNow worth $122,262,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the period. Norges Bank acquired a new position in ServiceNow in the fourth quarter valued at $2,603,360,000. Proficio Capital Partners LLC boosted its position in ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock valued at $667,000 after acquiring an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in ServiceNow during the 4th quarter worth about $682,468,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock worth $8,434,235,000 after acquiring an additional 509,467 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 2.0%

Shares of ServiceNow stock opened at $987.71 on Friday. The stock has a fifty day moving average price of $944.56 and a 200-day moving average price of $972.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $204.44 billion, a PE ratio of 144.61, a P/E/G ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the firm posted $3.41 earnings per share. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 292 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $287,620.00. Following the sale, the chief financial officer now owns 11,198 shares of the company’s stock, valued at $11,030,030. The trade was a 2.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the sale, the chief executive officer now owns 6,614 shares in the company, valued at approximately $6,693,434.14. This represents a 23.66% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,716 shares of company stock valued at $6,611,245. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company raised their target price on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Piper Sandler lowered their price objective on shares of ServiceNow from $1,200.00 to $1,120.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. UBS Group reissued a “buy” rating and set a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. TD Securities reaffirmed a “buy” rating and issued a $1,100.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. Finally, BMO Capital Markets increased their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,062.50.

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.