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Raiffeisen Bank International AG Has $64.31 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

ServiceNow logo with Computer and Technology background

Key Points

  • Raiffeisen Bank International AG increased its holdings in ServiceNow, Inc. by 51.1% in Q1, bringing its total to 80,617 shares valued at approximately $64.31 million.
  • Analysts have generally issued positive ratings on ServiceNow, with price targets ranging from $970.00 to $1,225.00, reflecting a consensus average target price of $1,115.20.
  • ServiceNow's recent earnings report exceeded expectations, with $4.09 EPS reported against an anticipated $3.57, and revenue growing by 22.4% year-over-year.
  • MarketBeat previews top five stocks to own in September.

Raiffeisen Bank International AG grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 51.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 80,617 shares of the information technology services provider's stock after acquiring an additional 27,270 shares during the period. ServiceNow comprises 1.0% of Raiffeisen Bank International AG's holdings, making the stock its 24th largest holding. Raiffeisen Bank International AG's holdings in ServiceNow were worth $64,313,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Edgemoor Investment Advisors Inc. increased its holdings in ServiceNow by 2.5% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $366,000 after acquiring an additional 11 shares during the period. Integrated Investment Consultants LLC grew its position in shares of ServiceNow by 2.5% during the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after purchasing an additional 11 shares in the last quarter. one8zero8 LLC increased its holdings in shares of ServiceNow by 3.2% in the first quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock worth $283,000 after purchasing an additional 11 shares during the period. Capital Investment Advisory Services LLC raised its position in shares of ServiceNow by 2.1% in the first quarter. Capital Investment Advisory Services LLC now owns 577 shares of the information technology services provider's stock worth $459,000 after buying an additional 12 shares in the last quarter. Finally, Argent Trust Co raised its position in shares of ServiceNow by 0.4% in the first quarter. Argent Trust Co now owns 3,363 shares of the information technology services provider's stock worth $2,677,000 after buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Oppenheimer restated an "outperform" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Royal Bank Of Canada upped their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. BMO Capital Markets lifted their target price on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Wells Fargo & Company increased their price target on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,115.20.

Get Our Latest Stock Report on NOW

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 145 shares of ServiceNow stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1,020.00, for a total value of $147,900.00. Following the completion of the transaction, the insider owned 3,027 shares of the company's stock, valued at $3,087,540. The trade was a 4.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lawrence Jackson sold 757 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $990.50, for a total transaction of $749,808.50. Following the sale, the director directly owned 588 shares in the company, valued at $582,414. This trade represents a 56.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,990 shares of company stock valued at $6,047,567. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Down 3.1%

Shares of ServiceNow stock opened at $914.03 on Friday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The firm has a market cap of $190.12 billion, a price-to-earnings ratio of 115.12, a PEG ratio of 4.12 and a beta of 0.93. The company has a 50-day moving average of $994.89 and a 200 day moving average of $950.03. 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 (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS 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 firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the previous year, the firm posted $3.13 EPS. The business's revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow Profile

(Free Report)

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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Want to see what other hedge funds are holding NOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ServiceNow, Inc. (NYSE:NOW - Free Report).

Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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.

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