Groupe la Francaise Buys 1,286 Shares of ServiceNow, Inc. $NOW

Key Points

• Groupe la Francaise increased its stake in ServiceNow by 3.1%, owning 43,292 shares worth approximately $36 million as of the end of the 1st quarter.
• ServiceNow received several upgrades from analysts, with Wells Fargo raising its price target to $1,225 and a consensus rating of "Moderate Buy" with an average target price of $1,115.20.
• Insider selling was notable, with CFO Gina Mastantuono selling shares worth over $1.5 million, indicating a 12.59% decrease in her holdings following the transaction.

Groupe la Francaise lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,292 shares of the information technology services provider's stock after buying an additional 1,286 shares during the quarter. Groupe la Francaise's holdings in ServiceNow were worth $36,050,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Quarry LP purchased a new stake in ServiceNow in the 4th quarter worth approximately $27,000. Bogart Wealth LLC lifted its stake in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after purchasing an additional 17 shares in the last quarter. Graybill Wealth Management LTD. purchased a new stake in ServiceNow in the 1st quarter worth approximately $26,000. Heck Capital Advisors LLC purchased a new stake in ServiceNow in the 4th quarter worth approximately $37,000. Finally, WASHINGTON TRUST Co lifted its stake in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after purchasing an additional 31 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Piper Sandler increased their target price on shares of ServiceNow from $1,120.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and raised their price objective for the company from $950.00 to $1,200.00 in a research report on Thursday, May 1st. Needham & Company LLC raised their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, JMP Securities restated a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $1,115.20.

ServiceNow Trading Up 2.3%

ServiceNow stock traded up $19.81 during trading hours on Wednesday, reaching $884.47. The stock had a trading volume of 641,417 shares, compared to its average volume of 1,706,800. The company has a fifty day simple moving average of $949.76 and a 200-day simple moving average of $927.07. The stock has a market cap of $183.97 billion, a PE ratio of 111.40, a PEG ratio of 3.97 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its 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. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the firm posted $3.13 EPS. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. Analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 1,562 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 $1,353,394.90. Following the completion of the sale, the insider directly owned 3,027 shares in the company, valued at approximately $2,622,744.15. The trade was a 34.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 1,762 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the transaction, the chief financial officer owned 12,228 shares of the company's stock, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,668 shares of company stock valued at $14,373,737. 0.38% of the stock is 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.