ServiceNow, Inc. $NOW Shares Bought by Carmignac Gestion

Key Points

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Carmignac Gestion raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 65.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,701 shares of the information technology services provider's stock after buying an additional 40,840 shares during the period. ServiceNow comprises 1.3% of Carmignac Gestion's investment portfolio, making the stock its 24th largest position. Carmignac Gestion owned 0.05% of ServiceNow worth $82,562,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in ServiceNow by 1.6% in the first quarter. Vanguard Group Inc. now owns 19,496,992 shares of the information technology services provider's stock worth $15,522,335,000 after buying an additional 297,734 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of ServiceNow by 6.8% during the 4th 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 purchasing an additional 509,467 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of ServiceNow by 87,501.3% in the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after acquiring an additional 2,686,291 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ServiceNow by 3.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,654,825 shares of the information technology services provider's stock valued at $2,814,433,000 after buying an additional 87,876 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of ServiceNow by 4.9% during the fourth quarter. Nuveen Asset Management LLC now owns 2,343,840 shares of the information technology services provider's stock valued at $2,484,752,000 after purchasing an additional 109,293 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler upped their price target on ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. TD Securities reissued a "buy" rating and set a $1,100.00 price target on shares of ServiceNow in a report on Thursday, April 24th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $1,003.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. UBS Group reduced their price target on ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Finally, Bank of America upped their price target on ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

ServiceNow Trading Up 2.7%

NOW stock opened at $890.73 on Tuesday. The company has a market capitalization of $185.27 billion, a PE ratio of 112.18, a price-to-earnings-growth ratio of 3.91 and a beta of 0.93. ServiceNow, Inc. has a one year low of $678.66 and a one year high of $1,198.09. The company's 50 day moving average price is $964.30 and its two-hundred day moving average price is $932.15. 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 issued its 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 firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The business's revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the business earned $3.13 earnings per share. As a group, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Paul Edward Chamberlain sold 300 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $860.00, for a total value of $258,000.00. Following the completion of the transaction, the director directly owned 9,886 shares in the company, valued at $8,501,960. This represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lawrence Jackson sold 757 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $990.50, for a total value 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. Insiders have sold 6,038 shares of company stock worth $5,971,973 over the last quarter. Corporate insiders own 0.38% of the company's stock.

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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