IFM Investors Pty Ltd raised its stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 20.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,670 shares of the information technology services provider’s stock after purchasing an additional 5,288 shares during the period. IFM Investors Pty Ltd’s holdings in ServiceNow were worth $17,637,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of ServiceNow during the fourth quarter valued at approximately $1,117,096,000. Fisher Asset Management LLC grew its position in shares of ServiceNow by 164.8% in the fourth quarter. Fisher Asset Management LLC now owns 894,730 shares of the information technology services provider’s stock valued at $580,778,000 after purchasing an additional 556,871 shares during the last quarter. TD Asset Management Inc. grew its position in shares of ServiceNow by 84.7% in the fourth quarter. TD Asset Management Inc. now owns 1,207,201 shares of the information technology services provider’s stock valued at $783,606,000 after buying an additional 553,517 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of ServiceNow by 11.7% in the fourth quarter. Nuveen Asset Management LLC now owns 2,925,155 shares of the information technology services provider’s stock valued at $1,898,748,000 after buying an additional 305,908 shares in the last quarter. Finally, State Street Corp boosted its position in shares of ServiceNow by 3.2% in the fourth quarter. State Street Corp now owns 7,870,165 shares of the information technology services provider’s stock valued at $5,108,603,000 after purchasing an additional 241,296 shares during the last quarter. 87.20% of the stock is currently owned by institutional investors.
ServiceNow Price Performance
Shares of NYSE NOW opened at $446.66 on Monday. The company has a market cap of $89.54 billion, a PE ratio of 406.05, a PEG ratio of 8.94 and a beta of 1.03. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. ServiceNow, Inc. has a 1-year low of $406.47 and a 1-year high of $707.60. The company has a fifty day moving average price of $463.62 and a 200 day moving average price of $505.32.
ServiceNow (NYSE:NOW – Get Rating) last announced its earnings results on Wednesday, July 27th. The information technology services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.09. The company had revenue of $1.75 billion in the quarter, compared to analyst estimates of $1.76 billion. ServiceNow has a net margin of 3.56% and a return on equity of 8.66%. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. Research analysts predict that ServiceNow, Inc. will post 1.71 earnings per share for the current fiscal year.
Changes in Analyst Ratings
NOW has been the subject of several research analyst reports. Barclays dropped their price target on ServiceNow from $560.00 to $495.00 and set an “overweight” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on ServiceNow from $680.00 to $625.00 and set a “hold” rating on the stock in a research report on Thursday. Canaccord Genuity Group reduced their price target on ServiceNow from $615.00 to $510.00 and set a “buy” rating on the stock in a research report on Thursday. BMO Capital Markets reduced their price target on ServiceNow from $520.00 to $497.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Morgan Stanley reissued a “hold” rating and set a $556.00 price target (down from $575.00) on shares of ServiceNow in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $589.90.
Insiders Place Their Bets
In other ServiceNow news, COO Chirantan Jitendra Desai sold 7,000 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $477.52, for a total transaction of $3,342,640.00. Following the sale, the chief operating officer now directly owns 38,980 shares of the company’s stock, valued at approximately $18,613,729.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. In other ServiceNow news, insider Paul John Smith sold 412 shares of the business’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $427.17, for a total transaction of $175,994.04. Following the sale, the insider now directly owns 1,755 shares of the company’s stock, valued at approximately $749,683.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. Also, COO Chirantan Jitendra Desai sold 7,000 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was traded at an average price of $477.52, for a total transaction of $3,342,640.00. Following the sale, the chief operating officer now directly owns 38,980 shares in the company, valued at $18,613,729.60. The disclosure for this sale can be found here. Insiders have sold 16,150 shares of company stock valued at $7,804,261 in the last three months. 0.28% of the stock is currently owned by corporate insiders.
ServiceNow profile
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ServiceNow, Inc provides enterprise cloud computing solutions that define, build, integrate, manage, and automate services for businesses worldwide. It powers the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
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