ServiceNow, Inc. (NYSE:NOW) Stake Raised by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. raised its holdings in shares of ServiceNow, Inc. (NYSE:NOWGet Rating) by 1.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,344 shares of the information technology services provider’s stock after buying an additional 338 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in ServiceNow were worth $9,948,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Ambassador Advisors LLC boosted its position in ServiceNow by 3.0% during the third quarter. Ambassador Advisors LLC now owns 8,263 shares of the information technology services provider’s stock valued at $3,120,000 after purchasing an additional 239 shares during the last quarter. Cladis Investment Advisory LLC grew its position in ServiceNow by 10.0% in the 3rd quarter. Cladis Investment Advisory LLC now owns 550 shares of the information technology services provider’s stock worth $208,000 after purchasing an additional 50 shares during the last quarter. National Pension Service increased its stake in ServiceNow by 3.6% during the third quarter. National Pension Service now owns 305,621 shares of the information technology services provider’s stock valued at $117,817,000 after acquiring an additional 10,597 shares during the period. Telemetry Investments L.L.C. bought a new stake in shares of ServiceNow during the third quarter valued at approximately $201,000. Finally, Glenmede Trust Co. NA increased its holdings in ServiceNow by 31.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 35,359 shares of the information technology services provider’s stock valued at $13,351,000 after buying an additional 8,540 shares during the period. 86.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Lara Caimi sold 2,975 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $431.58, for a total value of $1,283,950.50. Following the completion of the transaction, the insider now directly owns 98 shares in the company, valued at approximately $42,294.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO William R. Mcdermott sold 30,500 shares of the stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $459.14, for a total transaction of $14,003,824.90. Following the sale, the chief executive officer now directly owns 11,518 shares of the company’s stock, valued at $5,288,395.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lara Caimi sold 2,975 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $431.58, for a total value of $1,283,950.50. Following the completion of the transaction, the insider now directly owns 98 shares in the company, valued at $42,294.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,016 shares of company stock valued at $28,805,543. 0.28% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NOW shares. Piper Sandler raised their price objective on shares of ServiceNow from $500.00 to $525.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. JPMorgan Chase & Co. raised their price target on ServiceNow from $485.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, January 26th. Wolfe Research raised their price objective on shares of ServiceNow from $500.00 to $510.00 and gave the stock an “outperform” rating in a report on Thursday, January 26th. BMO Capital Markets lifted their target price on ServiceNow from $475.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, January 26th. Finally, Citigroup cut their price target on shares of ServiceNow from $515.00 to $508.00 and set a “buy” rating on the stock in a research report on Thursday, January 19th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $517.47.

ServiceNow Stock Performance

NYSE:NOW opened at $422.26 on Thursday. ServiceNow, Inc. has a twelve month low of $337.00 and a twelve month high of $601.62. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock’s 50-day simple moving average is $435.99 and its 200 day simple moving average is $412.10. The firm has a market capitalization of $85.72 billion, a PE ratio of 263.91, a price-to-earnings-growth ratio of 5.56 and a beta of 1.03.

ServiceNow (NYSE:NOWGet Rating) last posted its quarterly earnings results on Wednesday, January 25th. The information technology services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.28. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. ServiceNow had a net margin of 4.49% and a return on equity of 9.37%. On average, analysts anticipate that ServiceNow, Inc. will post 2.64 EPS for the current fiscal year.

ServiceNow Profile

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ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. The company was founded by Frederic B.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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