ServiceNow, Inc. $NOW Shares Purchased by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH increased its stake in ServiceNow, Inc. by 3.1%, making it the firm's 27th largest position, with holdings valued at approximately $66.7 million.
• ServiceNow's stock received multiple upgrades from analysts, including a buy rating by Goldman Sachs and a lifted price target from Stifel Nicolaus to $1,050.
• ServiceNow reported earnings of $4.09 EPS, exceeding analysts' expectations and showing a 22.4% year-over-year revenue increase to $3.22 billion.

Erste Asset Management GmbH boosted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,527 shares of the information technology services provider's stock after acquiring an additional 2,514 shares during the quarter. ServiceNow accounts for 0.8% of Erste Asset Management GmbH's portfolio, making the stock its 27th largest position. Erste Asset Management GmbH's holdings in ServiceNow were worth $66,702,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its position in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after acquiring an additional 17 shares during the period. Graybill Wealth Management LTD. acquired a new stake in ServiceNow in the 1st quarter valued at approximately $26,000. Quarry LP acquired a new stake in ServiceNow in the 4th quarter valued at approximately $27,000. WASHINGTON TRUST Co increased its position in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 31 shares during the period. Finally, Dagco Inc. acquired a new stake in ServiceNow in the 1st quarter valued at approximately $33,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on NOW shares. The Goldman Sachs Group restated a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. Stifel Nicolaus lifted 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. FBN Securities upgraded ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. Truist Financial upgraded ServiceNow from a "hold" rating to a "buy" rating and lifted their price target for the company from $950.00 to $1,200.00 in a research report on Thursday, May 1st. Finally, JMP Securities reiterated a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Monday, August 4th. One investment 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,115.20.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $887.4020 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $184.58 billion, a price-to-earnings ratio of 111.76, a PEG ratio of 4.02 and a beta of 0.93. The stock's fifty day simple moving average is $961.85 and its 200 day simple moving average is $931.84. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

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 analysts' consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company's quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.13 EPS. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 1,562 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total value of $1,353,394.90. Following the completion of the sale, the insider owned 3,027 shares of the company's stock, valued at $2,622,744.15. This trade represents a 34.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Gina Mastantuono sold 1,762 shares of the firm's stock in a transaction on 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 completion of the sale, the chief financial officer directly owned 12,228 shares of the company's stock, valued at approximately $10,594,950.60. This trade represents a 12.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,361 shares of company stock worth $10,579,976. Corporate insiders own 0.38% of the company's stock.

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.

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