Czech National Bank Boosts Holdings in ServiceNow, Inc. $NOW

Key Points

• Czech National Bank increased its ServiceNow stake by 3% in the second quarter, bringing its holdings to 293,550 shares valued at approximately $29.1 million. Institutional investors and hedge funds own 87.18% of the company.
• ServiceNow beat quarterly expectations, reporting $0.90 in adjusted EPS versus $0.86 expected and $3.99 billion in revenue, up 24% year over year. Shares opened at $124.91, while the company’s market capitalization stood at about $129.2 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $143.39; however, insiders sold 18,993 shares worth roughly $1.7 million over the past three months.

Czech National Bank boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 293,550 shares of the information technology services provider's stock after acquiring an additional 8,676 shares during the period. Czech National Bank's holdings in ServiceNow were worth $29,144,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Millstone Evans Group LLC raised its position in shares of ServiceNow by 400.0% during the 4th quarter. Millstone Evans Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 132 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider's stock valued at $25,000 after buying an additional 135 shares during the last quarter. Blueline Advisors LLC acquired a new stake in ServiceNow during the 4th quarter valued at $25,000. Measured Wealth Private Client Group LLC increased its position in ServiceNow by 560.0% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 165 shares of the information technology services provider's stock worth $25,000 after buying an additional 140 shares in the last quarter. Finally, Wealth Watch Advisors INC raised its holdings in shares of ServiceNow by 432.3% in the fourth quarter. Wealth Watch Advisors INC now owns 165 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 134 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 16,445 shares of ServiceNow stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total value of $1,482,352.30. Following the transaction, the director owned 30,090 shares in the company, valued at $2,712,312.60. This trade represents a 35.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Fipps sold 1,048 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider directly owned 12,072 shares of the company's stock, valued at $1,189,212.72. This represents a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 18,993 shares of company stock worth $1,716,436. 0.34% of the stock is owned by company insiders.

ServiceNow Stock Up 6.4%

Shares of NYSE:NOW opened at $124.91 on Friday. The stock's 50-day moving average price is $106.73 and its two-hundred day moving average price is $105.86. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 12-month low of $81.24 and a 12-month high of $194.73. The firm has a market cap of $129.16 billion, a price-to-earnings ratio of 78.07, a PEG ratio of 2.06 and a beta of 0.94.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.04. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company's quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 EPS. On average, research analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NOW. JPMorgan Chase & Co. upped their price objective on ServiceNow from $145.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Weiss Ratings downgraded shares of ServiceNow from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, July 10th. Stifel Nicolaus reduced their target price on shares of ServiceNow from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Argus decreased their price target on shares of ServiceNow from $180.00 to $134.00 and set a "buy" rating on the stock in a research note on Friday, April 24th. Finally, Evercore reiterated an "outperform" rating and set a $160.00 price target on shares of ServiceNow in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $143.39.

ServiceNow Company Profile

ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.

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