Erste Asset Management GmbH Buys New Stake in ServiceNow, Inc. (NYSE:NOW)

Erste Asset Management GmbH purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 72,697 shares of the information technology services provider’s stock, valued at approximately $64,407,000.

A number of other large investors have also made changes to their positions in NOW. International Assets Investment Management LLC raised its stake in ServiceNow by 89,137.0% in the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after buying an additional 1,183,739 shares during the last quarter. Bank of Montreal Can raised its position in shares of ServiceNow by 216.6% in the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock valued at $1,206,178,000 after purchasing an additional 935,848 shares during the last quarter. FMR LLC boosted its stake in ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in ServiceNow by 917.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 310,754 shares of the information technology services provider’s stock worth $277,935,000 after purchasing an additional 280,210 shares during the last quarter. Finally, AustralianSuper Pty Ltd acquired a new position in ServiceNow during the 2nd quarter valued at approximately $218,786,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This represents a 6.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,329 shares of company stock valued at $20,547,241 in the last 90 days. 0.25% of the stock is owned by insiders.

ServiceNow Stock Up 0.8 %

NOW stock opened at $1,049.44 on Friday. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,072.84. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $963.10 and a 200-day simple moving average of $846.89. The stock has a market capitalization of $216.18 billion, a P/E ratio of 163.21, a P/E/G ratio of 6.02 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. Equities analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the subject of several research reports. Oppenheimer lifted their price objective on shares of ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. BMO Capital Markets lifted their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. UBS Group increased their price objective on ServiceNow from $900.00 to $1,055.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Stifel Nicolaus lifted their target price on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $989.07.

ServiceNow Profile

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.