Banco Santander S.A. Has $48.64 Million Position in ServiceNow, Inc. $NOW

Banco Santander S.A. reduced its stake in ServiceNow, Inc. (NYSE:NOW) by 3.6% during the second quarter, HoldingsChannel reports. The firm owned 47,312 shares of the information technology services provider’s stock after selling 1,786 shares during the quarter. Banco Santander S.A.’s holdings in ServiceNow were worth $48,641,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Solstein Capital LLC boosted its stake in shares of ServiceNow by 60.0% in the 2nd quarter. Solstein Capital LLC now owns 112 shares of the information technology services provider’s stock valued at $115,000 after purchasing an additional 42 shares in the last quarter. Delta Investment Management LLC boosted its stake in shares of ServiceNow by 1.2% in the 2nd quarter. Delta Investment Management LLC now owns 1,142 shares of the information technology services provider’s stock valued at $1,174,000 after purchasing an additional 14 shares in the last quarter. Signature Wealth Management Group boosted its stake in shares of ServiceNow by 1.9% in the 2nd quarter. Signature Wealth Management Group now owns 1,957 shares of the information technology services provider’s stock valued at $2,012,000 after purchasing an additional 36 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of ServiceNow by 5.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 593,884 shares of the information technology services provider’s stock valued at $610,550,000 after purchasing an additional 30,831 shares in the last quarter. Finally, Chilton Capital Management LLC boosted its stake in shares of ServiceNow by 128.0% in the 2nd quarter. Chilton Capital Management LLC now owns 57 shares of the information technology services provider’s stock valued at $59,000 after purchasing an additional 32 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research analyst reports. UBS Group reduced their price target on shares of ServiceNow from $1,100.00 to $1,075.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Bank of America lifted their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company lifted their target price on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,124.17.

ServiceNow Price Performance

Shares of NYSE NOW opened at $929.77 on Monday. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm has a fifty day simple moving average of $917.85 and a 200 day simple moving average of $943.26. The company has a market capitalization of $193.39 billion, a PE ratio of 117.10, a P/E/G ratio of 4.20 and a beta of 0.92. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 5,825 shares of ServiceNow stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the completion of the transaction, the chief executive officer owned 6,614 shares of the company’s stock, valued at $6,062,590.82. This trade represents a 46.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 1,562 shares of ServiceNow stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,353,394.90. Following the transaction, the insider directly owned 3,027 shares of the company’s stock, valued at $2,622,744.15. This represents a 34.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,737 shares of company stock valued at $16,798,825 over the last three months. 0.38% of the stock is currently 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.