Robeco Institutional Asset Management B.V. Boosts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Robeco Institutional Asset Management B.V. grew its stake in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 5.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,758 shares of the information technology services provider’s stock after buying an additional 3,673 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in ServiceNow were worth $24,830,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. High Net Worth Advisory Group LLC purchased a new position in shares of ServiceNow during the 1st quarter valued at about $29,000. Vigilant Capital Management LLC lifted its position in shares of ServiceNow by 300.0% during the 3rd quarter. Vigilant Capital Management LLC now owns 96 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 72 shares in the last quarter. Motco purchased a new position in shares of ServiceNow during the 3rd quarter valued at about $37,000. Mach 1 Financial Group LLC purchased a new position in shares of ServiceNow during the 3rd quarter valued at about $43,000. Finally, Vienna Asset Management LLC purchased a new position in ServiceNow in the 3rd quarter worth approximately $44,000. 86.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 1,083 shares of the business’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $461.03, for a total transaction of $499,295.49. Following the completion of the transaction, the insider now owns 267 shares in the company, valued at approximately $123,095.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 1,083 shares of the company’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $461.03, for a total value of $499,295.49. Following the completion of the sale, the insider now directly owns 267 shares in the company, valued at approximately $123,095.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lara Caimi sold 2,975 shares of the company’s 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 sale, the insider now owns 98 shares of the company’s stock, valued at $42,294.84. The disclosure for this sale can be found here. Insiders sold a total of 63,016 shares of company stock worth $28,805,543 in the last quarter. 0.28% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Canaccord Genuity Group boosted their price target on ServiceNow from $460.00 to $485.00 and gave the stock a “buy” rating in a report on Thursday, January 26th. Sanford C. Bernstein lowered their price target on ServiceNow from $641.00 to $586.00 and set an “outperform” rating on the stock in a report on Thursday, January 26th. Citigroup lowered their price target on ServiceNow from $515.00 to $508.00 and set a “buy” rating on the stock in a report on Thursday, January 19th. Royal Bank of Canada boosted their price target on ServiceNow from $500.00 to $510.00 in a report on Thursday, January 26th. Finally, Barclays lowered their price target on ServiceNow from $496.00 to $495.00 and set an “overweight” rating on the stock in a report on Thursday, January 26th. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $517.47.

ServiceNow Price Performance

NOW opened at $442.39 on Friday. The business has a fifty day moving average of $437.51 and a 200 day moving average of $412.31. ServiceNow, Inc. has a 52-week low of $337.00 and a 52-week 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 has a market cap of $89.81 billion, a P/E ratio of 276.49, a PEG ratio of 5.56 and a beta of 1.03.

ServiceNow (NYSE:NOW – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The information technology services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.28. ServiceNow had a return on equity of 9.37% and a net margin of 4.49%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 2.64 EPS for the current year.

About ServiceNow

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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.