Banco Santander S.A. increased its holdings in ServiceNow Inc (NYSE:NOW) by 1.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,223 shares of the information technology services provider’s stock after buying an additional 401 shares during the period. Banco Santander S.A.’s holdings in ServiceNow were worth $7,515,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Capital International Investors grew its position in shares of ServiceNow by 49.8% during the 4th quarter. Capital International Investors now owns 4,806,420 shares of the information technology services provider’s stock valued at $1,356,949,000 after acquiring an additional 1,598,859 shares during the period. Geode Capital Management LLC boosted its stake in shares of ServiceNow by 59.2% during the 4th quarter. Geode Capital Management LLC now owns 2,557,870 shares of the information technology services provider’s stock worth $720,446,000 after purchasing an additional 951,447 shares during the last quarter. Polen Capital Management LLC acquired a new stake in shares of ServiceNow during the 4th quarter worth about $547,821,000. Norges Bank acquired a new stake in shares of ServiceNow during the 4th quarter worth about $534,605,000. Finally, Jackson Square Partners LLC acquired a new stake in shares of ServiceNow during the 4th quarter worth about $316,702,000. Institutional investors own 95.97% of the company’s stock.
In other ServiceNow news, insider David Schneider sold 1,198 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $378.00, for a total value of $452,844.00. Following the sale, the insider now directly owns 37,903 shares in the company, valued at $14,327,334. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey A. Miller sold 50,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $354.56, for a total value of $17,728,000.00. Following the completion of the sale, the director now owns 52,983 shares in the company, valued at $18,785,652.48. The disclosure for this sale can be found here. Insiders sold 343,795 shares of company stock worth $115,218,038 over the last quarter. 1.00% of the stock is currently owned by company insiders.
ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 29th. The information technology services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.02 billion. ServiceNow had a return on equity of 9.47% and a net margin of 18.19%. The firm’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same period last year, the business posted $0.67 earnings per share. On average, research analysts forecast that ServiceNow Inc will post 1.01 EPS for the current fiscal year.
Several equities research analysts have issued reports on NOW shares. Needham & Company LLC raised their price target on shares of ServiceNow from $335.00 to $383.00 in a research note on Thursday, April 30th. Argus raised their price target on shares of ServiceNow from $304.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Royal Bank of Canada decreased their price target on shares of ServiceNow from $370.00 to $356.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Morgan Stanley increased their price objective on shares of ServiceNow from $307.00 to $336.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Finally, UBS Group increased their price objective on shares of ServiceNow from $310.00 to $396.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $362.96.
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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