ServiceNow, Inc. (NYSE:NOW) Shares Purchased by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,323 shares of the information technology services provider's stock after buying an additional 2,253 shares during the quarter. IFM Investors Pty Ltd's holdings in ServiceNow were worth $33,695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of NOW. Quarry LP purchased a new stake in shares of ServiceNow in the 4th quarter valued at approximately $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow during the fourth quarter worth approximately $32,000. Heck Capital Advisors LLC acquired a new position in ServiceNow in the fourth quarter valued at $37,000. Finally, Cassady Schiller Wealth Management LLC lifted its position in ServiceNow by 44.0% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after acquiring an additional 11 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Activity

In related news, Vice Chairman Nicholas Tzitzon sold 1,171 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,020.00, for a total transaction of $1,194,420.00. Following the completion of the transaction, the insider owned 3,000 shares in the company, valued at approximately $3,060,000. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Chadwick sold 770 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the transaction, the director directly owned 3,205 shares of the company's stock, valued at approximately $2,985,842.10. This trade represents a 19.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NOW has been the subject of a number of analyst reports. Barclays set a $1,085.00 target price on ServiceNow in a research note on Wednesday, May 7th. UBS Group reissued a "buy" rating and issued a $1,025.00 price objective (up from $900.00) on shares of ServiceNow in a research note on Thursday, April 24th. TD Securities reaffirmed a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Oppenheimer reaffirmed an "outperform" rating and set a $1,100.00 price target (up from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Raymond James Financial dropped their price objective on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,068.23.

ServiceNow Trading Up 3.6%

NOW stock opened at $1,046.03 on Friday. The business has a fifty day moving average of $1,001.94 and a 200-day moving average of $964.12. The company has a market cap of $216.51 billion, a P/E ratio of 142.12, a PEG ratio of 4.64 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. 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 issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm earned $3.41 earnings per share. The business's quarterly revenue was up 18.6% on a year-over-year basis. As a group, equities research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

About ServiceNow

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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