Caisse DE Depot ET Placement DU Quebec Purchases 27,935 Shares of ServiceNow, Inc. $NOW

Key Points

• Caisse DE Depot ET Placement DU Quebec has increased its stake in ServiceNow, Inc. by 24.1%, owning a total of 143,843 shares valued at approximately $114.5 million.
• ServiceNow reported earnings of $4.09 per share for the last quarter, surpassing analyst expectations, with a year-over-year revenue increase of 22.4%.
• Insider transactions included CEO William R. Mcdermott and CFO Gina Mastantuono selling shares, reflecting a significant decrease in their ownership positions.

Caisse DE Depot ET Placement DU Quebec increased its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 24.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,843 shares of the information technology services provider's stock after purchasing an additional 27,935 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.07% of ServiceNow worth $114,519,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bogart Wealth LLC lifted its stake in ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new position in ServiceNow during the 1st quarter valued at $26,000. Quarry LP bought a new position in ServiceNow during the 4th quarter valued at $27,000. WASHINGTON TRUST Co lifted its stake in ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 31 shares in the last quarter. Finally, Dagco Inc. bought a new position in ServiceNow during the 1st quarter valued at $33,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Trading Up 1.0%

Shares of NOW opened at $885.7930 on Monday. The business has a 50-day moving average of $955.00 and a 200 day moving average of $928.38. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The firm has a market cap of $184.24 billion, a P/E ratio of 111.56, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

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

Analyst Ratings Changes

Several brokerages have weighed in on NOW. Royal Bank Of Canada raised their price objective on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Bank of America raised their price objective on ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. BMO Capital Markets raised their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Raymond James Financial raised their price objective on ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Needham & Company LLC lifted their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

Insider Buying and Selling

In related news, CEO William R. Mcdermott sold 1,585 shares of ServiceNow stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $900.00, for a total value of $1,426,500.00. Following the completion of the sale, the chief executive officer owned 12,439 shares of the company's stock, valued at approximately $11,195,100. This trade represents a 11.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the completion of the sale, the chief financial officer directly owned 12,228 shares of the company's stock, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,096 shares of company stock worth $14,807,562 in the last quarter. 0.38% of the stock is currently owned by company insiders.

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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