J. Safra Sarasin Holding AG Reduces Stock Holdings in ServiceNow, Inc. $NOW

J. Safra Sarasin Holding AG lowered its holdings in ServiceNow, Inc. (NYSE:NOW) by 94.4% during the first quarter, Holdings Channel reports. The fund owned 22,647 shares of the information technology services provider’s stock after selling 384,506 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in ServiceNow were worth $2,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Florida Financial Advisors LLC boosted its holdings in ServiceNow by 5.4% in the second quarter. Florida Financial Advisors LLC now owns 273 shares of the information technology services provider’s stock valued at $280,000 after purchasing an additional 14 shares during the last quarter. First Affirmative Financial Network raised its stake in shares of ServiceNow by 1.7% during the 3rd quarter. First Affirmative Financial Network now owns 892 shares of the information technology services provider’s stock valued at $821,000 after buying an additional 15 shares during the last quarter. Opes Wealth Management LLC lifted its holdings in shares of ServiceNow by 3.5% in the 3rd quarter. Opes Wealth Management LLC now owns 507 shares of the information technology services provider’s stock valued at $467,000 after buying an additional 17 shares during the period. Clark Capital Management Group Inc. lifted its holdings in shares of ServiceNow by 3.6% in the 3rd quarter. Clark Capital Management Group Inc. now owns 514 shares of the information technology services provider’s stock valued at $473,000 after buying an additional 18 shares during the period. Finally, American Trust boosted its stake in shares of ServiceNow by 1.8% in the third quarter. American Trust now owns 1,029 shares of the information technology services provider’s stock worth $947,000 after buying an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 16,445 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director owned 30,090 shares of the company’s stock, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. 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 8,927 shares of the company’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the transaction, the insider owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. This trade represents a 23.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is currently owned by company insiders.

ServiceNow Trading Up 3.4%

Shares of NYSE:NOW opened at $111.32 on Tuesday. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $210.20. The firm has a market capitalization of $114.77 billion, a price-to-earnings ratio of 66.34, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50 day moving average price is $102.95 and its 200-day moving average price is $110.65.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. ServiceNow had a net margin of 12.59% and a return on equity of 18.16%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS. On average, equities research analysts forecast that ServiceNow, Inc. will post 2.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on NOW. Piper Sandler dropped their target price on ServiceNow from $200.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $121.00 price target on shares of ServiceNow in a report on Tuesday, May 5th. Canaccord Genuity Group lowered their price objective on ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Citizens Jmp reaffirmed a “market outperform” rating and set a $157.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, DA Davidson reaffirmed a “buy” rating and set a $190.00 target price on shares of ServiceNow in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.47.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.