ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC raised its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 29.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 198,250 shares of the information technology services provider's stock after buying an additional 44,755 shares during the period. ServiceNow comprises about 1.9% of Manning & Napier Advisors LLC's portfolio, making the stock its 14th largest holding. Manning & Napier Advisors LLC owned approximately 0.10% of ServiceNow worth $157,835,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Heartland Bank & Trust Co boosted its stake in shares of ServiceNow by 13.2% in the first quarter. Heartland Bank & Trust Co now owns 961 shares of the information technology services provider's stock worth $765,000 after acquiring an additional 112 shares during the last quarter. Intact Investment Management Inc. boosted its stake in shares of ServiceNow by 3.7% in the first quarter. Intact Investment Management Inc. now owns 1,970 shares of the information technology services provider's stock worth $1,568,000 after acquiring an additional 70 shares during the last quarter. Garde Capital Inc. boosted its stake in ServiceNow by 12.1% during the 1st quarter. Garde Capital Inc. now owns 120 shares of the information technology services provider's stock worth $96,000 after purchasing an additional 13 shares during the last quarter. First American Bank boosted its stake in ServiceNow by 1.6% during the 1st quarter. First American Bank now owns 5,863 shares of the information technology services provider's stock worth $4,668,000 after purchasing an additional 95 shares during the last quarter. Finally, Weaver Capital Management LLC boosted its stake in ServiceNow by 6.8% during the 1st quarter. Weaver Capital Management LLC now owns 1,782 shares of the information technology services provider's stock worth $1,419,000 after purchasing an additional 114 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NOW. Canaccord Genuity Group lowered their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler lowered their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Needham & Company LLC restated a "buy" rating and set a $1,050.00 target price on shares of ServiceNow in a report on Tuesday, May 6th. BMO Capital Markets boosted their target price on ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 84 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $85,932.00. Following the completion of the transaction, the chief financial officer now owns 11,218 shares of the company's stock, valued at $11,476,014. This trade represents a 0.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 354 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. This represents a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock worth $6,611,245 in the last three months. 0.38% of the stock is owned by company insiders.

ServiceNow Stock Down 1.3%

NYSE:NOW opened at $969.78 on Friday. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The stock's fifty day moving average is $964.42 and its two-hundred day moving average is $970.33. The stock has a market capitalization of $200.72 billion, a price-to-earnings ratio of 131.76, a price-to-earnings-growth ratio of 4.48 and a beta of 0.95. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.34% and a net margin of 13.41%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the company earned $3.41 EPS. ServiceNow's revenue was up 18.6% on a year-over-year basis. Research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

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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