496 Shares in ServiceNow, Inc. $NOW Acquired by Financiere des Professionnels Fonds d investissement inc.

Key Points

• Financiere des Professionnels Fonds d'investissement inc. acquired 496 shares of ServiceNow, Inc. for approximately $510,000 during the 2nd quarter, marking its first investment in the company.
• ServiceNow reported a significant 22.4% increase in revenue year-over-year, with an EPS of $4.09 that beat estimates by $0.52, indicating strong financial performance.
• Numerous brokerages have increased their price targets for ServiceNow's stock, with Piper Sandler raising its target from $1,120 to $1,150, reflecting ongoing confidence in the company’s growth potential.

Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 496 shares of the information technology services provider's stock, valued at approximately $510,000.

Other large investors have also recently bought and sold shares of the company. Bogart Wealth LLC raised 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 purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new position in ServiceNow during the 1st quarter valued at $26,000. WASHINGTON TRUST Co raised 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 purchasing an additional 31 shares during the last quarter. Dagco Inc. bought a new stake in ServiceNow in the 1st quarter valued at $33,000. Finally, Heck Capital Advisors LLC bought a new stake in ServiceNow in the 4th quarter valued at $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Paul Fipps sold 1,452 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $895.05, for a total value of $1,299,612.60. Following the sale, the insider directly owned 457 shares in the company, valued at $409,037.85. This trade represents a 76.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the completion of the sale, the general counsel owned 4,332 shares in the company, valued at $3,830,614.32. This represents a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,976 shares of company stock worth $17,049,775 over the last ninety days. Company insiders own 0.38% of the company's stock.

ServiceNow Trading Up 1.6%

ServiceNow stock traded up $15.47 during trading hours on Friday, reaching $963.21. 2,806,372 shares of the company's stock traded hands, compared to its average volume of 1,416,023. 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, 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 capitalization of $200.35 billion, a price-to-earnings ratio of 121.31, a PEG ratio of 4.33 and a beta of 0.91. The firm's 50 day moving average is $922.60 and its 200-day moving average is $923.43.

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

Analyst Upgrades and Downgrades

NOW has been the topic of several analyst reports. BMO Capital Markets boosted their price target on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Raymond James Financial boosted their price target on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a report on Monday, August 4th. Wall Street Zen lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Finally, Citigroup boosted 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. One 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.