ServiceNow, Inc. (NYSE:NOW) is TCW Group Inc.’s 6th Largest Position

TCW Group Inc. decreased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 8.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 385,496 shares of the information technology services provider’s stock after selling 37,422 shares during the period. ServiceNow makes up about 2.7% of TCW Group Inc.’s holdings, making the stock its 6th largest holding. TCW Group Inc.’s holdings in ServiceNow were worth $306,909,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of ServiceNow by 1,586.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock worth $742,965,000 after purchasing an additional 877,875 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after buying an additional 509,467 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in ServiceNow by 36.7% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider’s stock worth $1,940,464,000 after purchasing an additional 491,861 shares in the last quarter. Finally, Sustainable Growth Advisers LP raised its stake in ServiceNow by 96.7% in the first quarter. Sustainable Growth Advisers LP now owns 723,457 shares of the information technology services provider’s stock worth $575,973,000 after buying an additional 355,629 shares in the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NYSE:NOW opened at $968.05 on Friday. The firm has a market capitalization of $200.37 billion, a price-to-earnings ratio of 121.92, a PEG ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.12. The business has a 50 day simple moving average of $1,000.33 and a 200-day simple moving average of $952.52. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the company posted $3.13 EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,003.00 price target on shares of ServiceNow in a report on Thursday, April 24th. UBS Group dropped their target price on shares of ServiceNow from $1,125.00 to $1,100.00 and set a “buy” rating on the stock in a report on Thursday. Canaccord Genuity Group reduced their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Mizuho lifted their target price on ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,114.87.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Jonathan Chadwick sold 770 shares of the business’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $931.62, for a total value of $717,347.40. Following the completion of the sale, the director directly owned 3,205 shares of the company’s stock, valued at $2,985,842.10. The trade was a 19.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $1,194,420.00. Following the completion of the transaction, the insider directly owned 3,000 shares in the company, valued at approximately $3,060,000. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,003 shares of company stock valued at $6,015,106. Company insiders own 0.38% of the company’s stock.

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.