IFM Investors Pty Ltd Acquires 1,790 Shares of ServiceNow, Inc. $NOW

Key Points

• IFM Investors Pty Ltd increased its stake in ServiceNow, Inc. by 4.5%, acquiring 1,790 additional shares, bringing their total holdings to 42,009 shares valued at $43.19 million.
• ServiceNow reported a quarterly earnings per share (EPS) of $4.09, beating analysts' estimates, and its revenue for the quarter was $3.22 billion, reflecting a 22.4% year-over-year increase.
• Insider transactions included Vice Chairman Nicholas Tzitzon and CEO William R. Mcdermott selling shares, which resulted in significant decreases in their ownership positions, with total insider sales reaching approximately $17 million over the last three months.

IFM Investors Pty Ltd increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,009 shares of the information technology services provider's stock after acquiring an additional 1,790 shares during the period. IFM Investors Pty Ltd's holdings in ServiceNow were worth $43,189,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bogart Wealth LLC lifted its position in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 17 shares in the last quarter. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow during the first quarter valued at about $26,000. WASHINGTON TRUST Co grew its stake in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after buying an additional 31 shares during the last quarter. Dagco Inc. bought a new position in shares of ServiceNow during the first quarter valued at about $33,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Buying and Selling

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,489,427.55. Following the sale, the insider directly owned 3,000 shares of the company's stock, valued at $2,599,350. This represents a 36.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $916.63, for a total transaction of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,062,590.82. This trade represents a 46.83% 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 three months. 0.38% of the stock is currently owned by company insiders.

ServiceNow Stock Down 0.4%

Shares of NYSE:NOW opened at $946.77 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The company has a 50-day moving average price of $922.08 and a 200 day moving average price of $922.99. The company has a market cap of $196.93 billion, a price-to-earnings ratio of 119.24, a PEG ratio of 4.28 and a beta of 0.91.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS 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 during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the firm earned $3.13 EPS. The firm's revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent research reports. Bank of America lifted their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, July 24th. JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research report on Monday, August 4th. Jefferies Financial Group upped their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Mizuho upped their price objective on ServiceNow from $1,050.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Finally, FBN Securities raised ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,115.20.

About ServiceNow

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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