Northwest & Ethical Investments L.P. Buys 5,216 Shares of ServiceNow, Inc. (NYSE:NOW)

Northwest & Ethical Investments L.P. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 37.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 19,324 shares of the information technology services provider’s stock after acquiring an additional 5,216 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in ServiceNow were worth $17,283,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Financial Counselors Inc. lifted its position in shares of ServiceNow by 2.0% in the 3rd quarter. Financial Counselors Inc. now owns 24,825 shares of the information technology services provider’s stock worth $22,203,000 after purchasing an additional 494 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ServiceNow by 4.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,566,949 shares of the information technology services provider’s stock valued at $2,295,854,000 after acquiring an additional 112,380 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of ServiceNow by 15.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 9,084 shares of the information technology services provider’s stock valued at $8,125,000 after acquiring an additional 1,200 shares during the period. Fiduciary Trust Co raised its position in shares of ServiceNow by 23.2% in the 3rd quarter. Fiduciary Trust Co now owns 5,557 shares of the information technology services provider’s stock worth $4,970,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ServiceNow by 14.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 121,275 shares of the information technology services provider’s stock worth $108,467,000 after purchasing an additional 15,133 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the completion of the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,329 shares of company stock worth $20,547,241. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on NOW. Scotiabank assumed coverage on shares of ServiceNow in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price objective for the company. Wells Fargo & Company increased their price objective on ServiceNow from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Evercore ISI upped their target price on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Truist Financial increased their price target on ServiceNow from $780.00 to $900.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Finally, Mizuho boosted their price target on ServiceNow from $980.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $989.07.

ServiceNow Price Performance

Shares of NYSE NOW traded down $28.67 during trading on Thursday, reaching $1,041.40. The company had a trading volume of 977,141 shares, compared to its average volume of 1,284,065. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $214.53 billion, a PE ratio of 161.96, a price-to-earnings-growth ratio of 6.04 and a beta of 0.98. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,072.84. The stock has a 50-day moving average price of $958.40 and a two-hundred day moving average price of $842.41.

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

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.