Desjardins Global Asset Management Inc. Sells 276 Shares of ServiceNow, Inc. (NYSE:NOW)

Desjardins Global Asset Management Inc. cut its holdings in ServiceNow, Inc. (NYSE:NOW) by 19.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,147 shares of the information technology services provider’s stock after selling 276 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in ServiceNow were worth $811,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. RB Capital Management LLC lifted its position in shares of ServiceNow by 25.2% during the first quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock worth $531,000 after purchasing an additional 192 shares in the last quarter. Zions Bancorporation N.A. lifted its holdings in ServiceNow by 17.9% during the 1st quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock worth $487,000 after buying an additional 133 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in ServiceNow by 728.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock valued at $1,070,000 after buying an additional 1,689 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of ServiceNow by 9.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock valued at $195,000 after buying an additional 29 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of ServiceNow by 0.7% during the first quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock worth $6,499,000 after acquiring an additional 86 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

Shares of NOW opened at $735.68 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20. ServiceNow, Inc. has a twelve month low of $427.68 and a twelve month high of $815.32. The stock has a market capitalization of $151.09 billion, a P/E ratio of 87.48, a P/E/G ratio of 4.71 and a beta of 0.97. The company has a 50 day moving average of $767.53 and a 200-day moving average of $700.42.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the firm earned $0.88 earnings per share. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 5,159 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the transaction, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research reports. JMP Securities lifted their price objective on ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a research report on Monday, January 22nd. Barclays boosted their price target on shares of ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Citigroup raised their price objective on shares of ServiceNow from $862.00 to $896.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a research report on Tuesday. Finally, BMO Capital Markets raised their price target on ServiceNow from $630.00 to $850.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $780.00.

ServiceNow Company 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.