ServiceNow, Inc. $NOW Holdings Lifted by Federation des caisses Desjardins du Quebec

Federation des caisses Desjardins du Quebec increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 34.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,531 shares of the information technology services provider's stock after buying an additional 4,753 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in ServiceNow were worth $14,754,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Preservation Advisors LLC purchased a new position in shares of ServiceNow during the first quarter valued at $382,000. Janus Henderson Group PLC increased its position in ServiceNow by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after purchasing an additional 12,533 shares during the last quarter. Corient IA LLC acquired a new position in ServiceNow in the 1st quarter worth about $796,000. Parr Mcknight Wealth Management Group LLC acquired a new position in ServiceNow in the 1st quarter worth about $1,820,000. Finally, ASR Vermogensbeheer N.V. acquired a new position in ServiceNow in the 1st quarter worth about $19,278,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 1,762 shares of the business's stock in a transaction dated 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 5,825 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $916.63, for a total value of $5,339,369.75. Following the transaction, the chief executive officer directly owned 6,614 shares of the company's stock, valued at $6,062,590.82. This represents a 46.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,976 shares of company stock worth $17,049,775 in the last ninety days. 0.38% of the stock is owned by insiders.

ServiceNow Stock Performance

NOW opened at $912.93 on Wednesday. The company has a market cap of $189.89 billion, a PE ratio of 114.98, a price-to-earnings-growth ratio of 4.14 and a beta of 0.91. The stock has a 50-day moving average of $943.00 and a 200-day moving average of $924.15. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm's revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.13 EPS. As a group, equities research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NOW shares. Wall Street Zen lowered ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday. Bank of America upped their target price on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Royal Bank Of Canada upped their target price on 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 upped their target price on ServiceNow from $1,150.00 to $1,160.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,115.20.

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.

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