Union Bancaire Privee UBP SA Purchases 7,865 Shares of ServiceNow, Inc. (NYSE:NOW)

Union Bancaire Privee UBP SA increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 16.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,427 shares of the information technology services provider’s stock after purchasing an additional 7,865 shares during the period. ServiceNow makes up 1.0% of Union Bancaire Privee UBP SA’s portfolio, making the stock its 29th biggest position. Union Bancaire Privee UBP SA’s holdings in ServiceNow were worth $43,220,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Fifth Third Bancorp raised its stake in shares of ServiceNow by 8.6% in the first quarter. Fifth Third Bancorp now owns 95,436 shares of the information technology services provider’s stock valued at $75,980,000 after acquiring an additional 7,534 shares during the last quarter. Simon Quick Advisors LLC grew its stake in shares of ServiceNow by 18.0% during the first quarter. Simon Quick Advisors LLC now owns 1,504 shares of the information technology services provider’s stock worth $1,197,000 after purchasing an additional 229 shares during the period. Axecap Investments LLC increased its stake in shares of ServiceNow by 17.8% in the 1st quarter. Axecap Investments LLC now owns 5,118 shares of the information technology services provider’s stock valued at $4,075,000 after acquiring an additional 773 shares during the last quarter. Focus Financial Network Inc. raised its position in shares of ServiceNow by 17.2% in the 1st quarter. Focus Financial Network Inc. now owns 20,645 shares of the information technology services provider’s stock valued at $16,436,000 after acquiring an additional 3,028 shares during the period. Finally, Northeast Investment Management raised its position in shares of ServiceNow by 15.0% in the 1st quarter. Northeast Investment Management now owns 26,428 shares of the information technology services provider’s stock valued at $21,040,000 after acquiring an additional 3,443 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on NOW. Piper Sandler lowered their target price 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. Bank of America dropped their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company boosted their price objective on ServiceNow from $1,100.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Needham & Company LLC reissued a “buy” rating and issued a $1,050.00 price target on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Canaccord Genuity Group cut their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $1,062.50.

ServiceNow Price Performance

ServiceNow stock opened at $1,003.66 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $207.74 billion, a price-to-earnings ratio of 146.95, a PEG ratio of 4.51 and a beta of 0.95. The stock’s 50 day moving average is $933.88 and its 200-day moving average is $974.34. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09.

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

Insider Buying and Selling

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the sale, the insider now owns 3,000 shares of the company’s stock, valued at approximately $3,060,000. This represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 248 shares of ServiceNow stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,009.14, for a total value of $250,266.72. Following the completion of the transaction, the director now directly owns 10,643 shares of the company’s stock, valued at approximately $10,740,277.02. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,716 shares of company stock worth $6,611,245 in the last three months. 0.38% of the stock is owned by corporate insiders.

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.