Czech National Bank Buys 3,283 Shares of ServiceNow, Inc. $NOW

Key Points

• The Czech National Bank increased its holdings in ServiceNow, Inc. by 6.9%, acquiring an additional 3,283 shares during Q2, bringing its total to 50,598 shares valued at approximately $52 million.
• ServiceNow's stock received multiple positive ratings from analysts, with price targets ranging from $1,150 to $1,300, reflecting a general consensus rating of "Moderate Buy".
• In recent insider trading, Vice Chairman Nicholas Tzitzon and General Counsel Russell S. Elmer sold 18,976 shares collectively, indicating a decrease in their ownership stake in the company.

Czech National Bank boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,598 shares of the information technology services provider's stock after buying an additional 3,283 shares during the quarter. Czech National Bank's holdings in ServiceNow were worth $52,019,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new stake in ServiceNow in the 1st quarter worth $382,000. Corient IA LLC acquired a new stake in ServiceNow in the 1st quarter worth $796,000. Parr Mcknight Wealth Management Group LLC bought a new position in shares of ServiceNow during the 1st quarter worth about $1,820,000. ASR Vermogensbeheer N.V. bought a new position in shares of ServiceNow during the 1st quarter worth about $19,278,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of ServiceNow by 131.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider's stock worth $1,178,706,000 after acquiring an additional 840,731 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NOW shares. Oppenheimer reaffirmed an "outperform" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of ServiceNow in a report on Thursday, July 24th. JMP Securities reissued a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a report on Monday, August 4th. Barclays set a $1,210.00 price target on shares of ServiceNow in a report on Thursday, July 24th. Citigroup lifted their price target on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Wall Street Zen downgraded shares of ServiceNow from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

ServiceNow Price Performance

NOW traded down $15.14 during midday trading on Tuesday, hitting $932.28. The company had a trading volume of 1,300,322 shares, compared to its average volume of 1,476,371. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm's 50-day simple moving average is $923.80 and its 200-day simple moving average is $922.54. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $193.91 billion, a PE ratio of 117.42, a P/E/G ratio of 4.27 and a beta of 0.91.

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

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. The trade was a 36.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gina Mastantuono sold 1,762 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares of the company's stock, valued at approximately $10,594,950.60. This represents a 12.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,976 shares of company stock valued at $17,049,775. 0.38% of the stock is currently owned by company insiders.

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.