Bedrijfstakpensioenfonds Voor DE Media PNO Buys 2,900 Shares of ServiceNow, Inc. $NOW

Key Points

• Bedrijfstakpensioenfonds Voor DE Media PNO increased its stake in ServiceNow, Inc. by 11.6%, acquiring an additional 2,900 shares during the second quarter, bringing its total to 28,000 shares, valued at approximately $28.8 million.
• Insiders at ServiceNow have sold a total of 18,976 shares worth $17 million over the past three months, indicating a notable decrease in their positions.
• ServiceNow's stock recently traded at $928.34, with an earnings per share (EPS) of $4.09, exceeding analysts' expectations and reflecting a 22.4% revenue increase year-over-year.

Bedrijfstakpensioenfonds Voor DE Media PNO boosted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,000 shares of the information technology services provider's stock after buying an additional 2,900 shares during the quarter. ServiceNow makes up about 3.4% of Bedrijfstakpensioenfonds Voor DE Media PNO's investment portfolio, making the stock its 8th largest position. Bedrijfstakpensioenfonds Voor DE Media PNO's holdings in ServiceNow were worth $28,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Wealth Preservation Advisors LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at $382,000. Corient IA LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at $796,000. Parr Mcknight Wealth Management Group LLC acquired a new position in ServiceNow in the first quarter valued at about $1,820,000. ASR Vermogensbeheer N.V. acquired a new position in ServiceNow in the first quarter valued at about $19,278,000. Finally, Goldman Sachs Group Inc. boosted its position in ServiceNow by 131.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock valued at $1,178,706,000 after buying an additional 840,731 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insiders Place Their Bets

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,489,427.55. Following the transaction, the insider owned 3,000 shares of the company's stock, valued at $2,599,350. This represents a 36.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 1,562 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the transaction, the insider directly owned 3,027 shares in the company, valued at approximately $2,622,744.15. This trade represents a 34.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,976 shares of company stock valued at $17,049,775 over the last three months. 0.38% of the stock is owned by insiders.

ServiceNow Trading Down 2.1%

Shares of NOW opened at $928.34 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The firm has a market capitalization of $193.09 billion, a PE ratio of 116.92, a price-to-earnings-growth ratio of 4.27 and a beta of 0.91. The stock's fifty day simple moving average is $921.75 and its 200-day simple moving average is $924.54.

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, beating 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 the consensus estimate of $3.12 billion. During the same period in the prior year, the company posted $3.13 EPS. The company's revenue was up 22.4% compared to the same quarter last year. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NOW shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $1,200.00 target price on shares of ServiceNow in a report on Thursday, July 24th. Citigroup boosted their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research note on Monday, August 4th. BMO Capital Markets boosted their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ServiceNow has an average rating of "Moderate Buy" and an average target price of $1,115.20.

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.

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