Skandinaviska Enskilda Banken AB publ Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Skandinaviska Enskilda Banken AB publ increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 243,437 shares of the information technology services provider’s stock after buying an additional 5,926 shares during the period. ServiceNow accounts for approximately 0.9% of Skandinaviska Enskilda Banken AB publ’s portfolio, making the stock its 20th largest holding. Skandinaviska Enskilda Banken AB publ owned approximately 0.12% of ServiceNow worth $191,505,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of ServiceNow in the 1st quarter worth $897,908,000. Global Assets Advisory LLC purchased a new position in ServiceNow in the first quarter worth $403,034,000. Vanguard Group Inc. increased its stake in ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after acquiring an additional 331,797 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in ServiceNow during the second quarter valued at about $218,786,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of ServiceNow by 18.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after purchasing an additional 271,153 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $919.25 on Friday. The company’s fifty day moving average price is $818.98 and its 200-day moving average price is $770.11. The stock has a market cap of $188.45 billion, a PE ratio of 98.32, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $921.97.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. On average, equities analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research reports. Robert W. Baird raised their price objective on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada lifted their price target on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Truist Financial upped their price objective on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a research report on Monday, September 9th. Finally, BMO Capital Markets boosted their price target on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $855.44.

Insider Buying and Selling at ServiceNow

In other news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were 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 directly owns 3,649 shares in the company, valued at $3,027,502.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is owned by insiders.

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.