Quintet Private Bank Europe S.A. Lowers Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

by · The Cerbat Gem

Quintet Private Bank Europe S.A. lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,791 shares of the information technology services provider’s stock after selling 2,610 shares during the quarter. ServiceNow comprises approximately 2.0% of Quintet Private Bank Europe S.A.’s portfolio, making the stock its 15th biggest position. Quintet Private Bank Europe S.A.’s holdings in ServiceNow were worth $34,694,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Lincoln National Corp boosted its stake in shares of ServiceNow by 6.3% in the first quarter. Lincoln National Corp now owns 3,587 shares of the information technology services provider’s stock valued at $2,735,000 after buying an additional 214 shares in the last quarter. Quent Capital LLC raised its stake in shares of ServiceNow by 4.1% during the 1st quarter. Quent Capital LLC now owns 770 shares of the information technology services provider’s stock worth $587,000 after buying an additional 30 shares during the last quarter. Mutual Advisors LLC boosted its position in shares of ServiceNow by 36.7% in the 1st quarter. Mutual Advisors LLC now owns 3,178 shares of the information technology services provider’s stock worth $2,423,000 after buying an additional 853 shares in the last quarter. Smith Salley Wealth Management purchased a new position in ServiceNow during the 1st quarter valued at about $302,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in ServiceNow by 91.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,926 shares of the information technology services provider’s stock worth $16,716,000 after acquiring an additional 10,467 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research reports. Piper Sandler increased their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. UBS Group boosted their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. TD Cowen lifted their price objective on ServiceNow from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Truist Financial boosted their target price on shares of ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Finally, Canaccord Genuity Group raised their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $970.33.

Read Our Latest Analysis on ServiceNow

Insider Activity

In related news, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul John Smith sold 187 shares of ServiceNow stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $795.58, for a total value of $148,773.46. Following the sale, the insider now owns 3,779 shares in the company, valued at $3,006,496.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,530 shares of company stock worth $2,939,955 over the last 90 days. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 0.9 %

NYSE NOW traded up $8.17 during trading hours on Monday, hitting $951.58. The company had a trading volume of 135,532 shares, compared to its average volume of 1,279,817. The firm’s 50 day moving average is $896.89 and its 200 day moving average is $804.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. ServiceNow, Inc. has a fifty-two week low of $602.45 and a fifty-two week high of $979.78. The company has a market capitalization of $196.03 billion, a price-to-earnings ratio of 146.72, a P/E/G ratio of 5.35 and a beta of 0.98.

ServiceNow (NYSE:NOW – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. Sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

ServiceNow Profile

(Free Report)

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.

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