ASR Vermogensbeheer N.V. Acquires Shares of 24,213 ServiceNow, Inc. (NYSE:NOW)

Key Points

• ASR Vermogensbeheer N.V. has acquired 24,213 shares of ServiceNow, Inc. worth approximately $19.3 million, indicating significant institutional interest in the company.
• Recent insider transactions revealed that Director Anita M. Sands and CFO Gina Mastantuono have sold shares, representing slight reductions in their ownership stakes.
• ServiceNow reported a strong earnings performance with an EPS of $4.09, surpassing analysts' expectations, and the stock has a current average target price of $1,115.20 following recent ratings upgrades by several analysts.

ASR Vermogensbeheer N.V. acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 24,213 shares of the information technology services provider's stock, valued at approximately $19,278,000.

Other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC boosted its holdings in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of ServiceNow in the 1st quarter worth approximately $26,000. Quarry LP acquired a new position in shares of ServiceNow in the 4th quarter worth approximately $27,000. WASHINGTON TRUST Co lifted its holdings in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after buying an additional 31 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in ServiceNow during the 4th quarter worth $37,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other news, Director Anita M. Sands sold 428 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the completion of the transaction, the director directly owned 10,891 shares in the company, valued at $11,039,226.51. This represents a 3.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gina Mastantuono sold 292 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $985.00, for a total transaction of $287,620.00. Following the transaction, the chief financial officer owned 11,198 shares of the company's stock, valued at approximately $11,030,030. This represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,990 shares of company stock worth $6,047,567. Corporate insiders own 0.38% of the company's stock.

ServiceNow Price Performance

NOW stock opened at $904.60 on Wednesday. The stock has a 50-day moving average price of $990.76 and a two-hundred day moving average price of $947.93. The stock has a market cap of $188.16 billion, a PE ratio of 113.93, a price-to-earnings-growth ratio of 4.16 and a beta of 0.93. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on NOW shares. DA Davidson upped their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Needham & Company LLC upped their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Jefferies Financial Group upped their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Citigroup upped their price objective on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Bank of America upped their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,115.20.

About ServiceNow

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.

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