Mn Services Vermogensbeheer B.V. Purchases 2,200 Shares of ServiceNow, Inc. $NOW

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in ServiceNow, Inc. by 2.9%, adding 2,200 shares to reach a total of 77,388 shares, valued at approximately $79.56 million.
• Insiders have recently sold 18,976 shares of ServiceNow, amounting to $17.05 million in total, indicating a decline in their ownership positions.
• Analysts have raised their price targets for ServiceNow, with estimates reaching as high as $1,250, reflecting strong market confidence in the company's growth.

Mn Services Vermogensbeheer B.V. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,388 shares of the information technology services provider's stock after purchasing an additional 2,200 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in ServiceNow were worth $79,561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NOW. GAMMA Investing LLC raised its position in shares of ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the period. Nuveen LLC bought a new stake in ServiceNow during the 1st quarter valued at $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd raised its stake in ServiceNow by 1,586.5% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider's stock valued at $742,965,000 after acquiring an additional 877,875 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in 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 valued at $1,178,706,000 after acquiring an additional 840,731 shares in the last quarter. Finally, Parnassus Investments LLC bought a new stake in ServiceNow during the 1st quarter valued at $519,806,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,526,684.90. Following the transaction, the chief financial officer directly owned 12,228 shares in the company, valued at approximately $10,594,950.60. The trade was a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business's 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 transaction, the insider owned 3,000 shares in the company, valued at $2,599,350. This represents a 36.43% 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 valued at $17,049,775 in the last ninety days. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Up 1.6%

NOW traded up $15.47 during trading on Friday, reaching $963.21. 2,806,372 shares of the stock traded hands, compared to its average volume of 1,416,023. The stock has a market cap of $200.35 billion, a price-to-earnings ratio of 121.31, a price-to-earnings-growth ratio of 4.33 and a beta of 0.91. ServiceNow, Inc. has a fifty-two week low of $678.66 and a fifty-two week high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock's 50-day simple moving average is $922.60 and its two-hundred day simple moving average is $923.38.

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, topping analysts' consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the previous year, the firm earned $3.13 earnings per share. The business's quarterly revenue was up 22.4% compared to the same quarter last year. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Wall Street Analyst Weigh In

NOW has been the topic of several recent analyst reports. Erste Group Bank reaffirmed a "hold" rating on shares of ServiceNow in a research note on Wednesday, July 23rd. Needham & Company LLC lifted their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,200.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. Citigroup lifted their target price on ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of ServiceNow in a research report on Tuesday, July 8th. One investment 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.