Zurcher Kantonalbank Zurich Cantonalbank Purchases 35,417 Shares of ServiceNow, Inc. (NYSE:NOW)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 46.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 111,986 shares of the information technology services provider's stock after acquiring an additional 35,417 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of ServiceNow worth $79,117,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in NOW. PFG Private Wealth Management LLC acquired a new stake in shares of ServiceNow in the 3rd quarter valued at about $28,000. First Capital Advisors Group LLC. acquired a new stake in shares of ServiceNow in the 2nd quarter valued at about $29,000. High Net Worth Advisory Group LLC acquired a new stake in shares of ServiceNow in the 1st quarter valued at about $29,000. AdvisorNet Financial Inc boosted its position in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 32 shares during the period. Finally, Steward Financial Group LLC boosted its position in shares of ServiceNow by 125.0% in the 3rd quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider's stock valued at $35,000 after purchasing an additional 35 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $767.12, for a total transaction of $905,201.60. Following the sale, the insider now owns 1,392 shares in the company, valued at approximately $1,067,831.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock valued at $9,940,303 in the last ninety days. Corporate insiders own 0.25% of the company's stock.

ServiceNow Price Performance

NYSE NOW traded up $8.83 during mid-day trading on Tuesday, hitting $744.64. The stock had a trading volume of 1,085,533 shares, compared to its average volume of 1,182,619. ServiceNow, Inc. has a 52-week low of $427.68 and a 52-week high of $815.32. The company has a market cap of $152.93 billion, a price-to-earnings ratio of 88.54, a P/E/G ratio of 4.86 and a beta of 0.97. The company has a 50 day simple moving average of $768.63 and a 200 day simple moving average of $700.17. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.20.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the business posted $0.88 EPS. ServiceNow's quarterly revenue was up 25.6% on a year-over-year basis. Equities analysts forecast that ServiceNow, Inc. will post 6.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on NOW shares. UBS Group upped their target price on ServiceNow from $885.00 to $920.00 and gave the company a "buy" rating in a research report on Monday. Truist Financial upped their target price on ServiceNow from $700.00 to $750.00 and gave the company a "hold" rating in a research report on Thursday, January 25th. KeyCorp started coverage on ServiceNow in a research report on Thursday, March 21st. They set an "overweight" rating and a $1,000.00 price objective for the company. Oppenheimer increased their price objective on ServiceNow from $750.00 to $800.00 and gave the stock an "outperform" rating in a research report on Thursday, January 18th. Finally, Wells Fargo & Company increased their price objective on ServiceNow from $875.00 to $900.00 and gave the stock an "overweight" rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $780.00.

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.