KBC Group NV Has $147.06 Million Stake in ServiceNow, Inc. (NYSE:NOW)

KBC Group NV boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,710 shares of the information technology services provider's stock after buying an additional 10,090 shares during the period. KBC Group NV owned approximately 0.09% of ServiceNow worth $147,055,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after acquiring an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after acquiring an additional 509,467 shares during the last quarter. FMR LLC lifted its holdings in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after acquiring an additional 272,506 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after acquiring an additional 100,670 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of ServiceNow by 87,501.3% in the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after acquiring an additional 2,686,291 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NOW opened at $1,023.56 on Friday. The business's fifty day moving average is $985.61 and its 200 day moving average is $965.98. ServiceNow, Inc. has a 12-month low of $678.66 and a 12-month high of $1,198.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The stock has a market cap of $211.86 billion, a P/E ratio of 139.07, a P/E/G ratio of 4.70 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The business's revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.41 earnings per share. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on NOW. Sanford C. Bernstein reissued an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,048.00 target price on shares of ServiceNow in a research report on Thursday, April 24th. Stifel Nicolaus upped their price target on ServiceNow from $975.00 to $1,050.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Wall Street Zen raised ServiceNow from a "hold" rating to a "buy" rating in a research note on Friday. Finally, William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,065.32.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer now owns 6,614 shares of the company's stock, valued at $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. The trade was a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.