EFG Asset Management Americas Corp. increased its position in ServiceNow Inc (NYSE:NOW) by 4.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 39,987 shares of the information technology services provider’s stock after acquiring an additional 1,775 shares during the period. ServiceNow comprises 3.1% of EFG Asset Management Americas Corp.’s investment portfolio, making the stock its 2nd biggest position. EFG Asset Management Americas Corp.’s holdings in ServiceNow were worth $10,151,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. KBC Group NV increased its holdings in ServiceNow by 275.3% in the second quarter. KBC Group NV now owns 87,151 shares of the information technology services provider’s stock worth $23,929,000 after buying an additional 63,929 shares during the last quarter. Menta Capital LLC acquired a new stake in ServiceNow in the second quarter worth about $223,000. Institute for Wealth Management LLC. increased its position in ServiceNow by 10.6% in the second quarter. Institute for Wealth Management LLC. now owns 3,049 shares of the information technology services provider’s stock worth $837,000 after purchasing an additional 292 shares during the period. Arcadia Investment Management Corp MI increased its position in ServiceNow by 219.5% in the second quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the information technology services provider’s stock worth $741,000 after purchasing an additional 1,855 shares during the period. Finally, Jennison Associates LLC increased its position in ServiceNow by 47.8% in the second quarter. Jennison Associates LLC now owns 4,489,468 shares of the information technology services provider’s stock worth $1,232,673,000 after purchasing an additional 1,452,900 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

A number of analysts recently commented on NOW shares. Bank of America reiterated a “buy” rating and issued a $330.00 price objective (up from $300.00) on shares of ServiceNow in a research report on Thursday, July 25th. BTIG Research lifted their price objective on ServiceNow to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Cfra upgraded ServiceNow from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. BMO Capital Markets lowered their price objective on ServiceNow from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Needham & Company LLC raised their target price on ServiceNow from $276.00 to $320.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $292.31.

NOW stock opened at $248.55 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $46.58 billion, a PE ratio of 1,242.75, a PEG ratio of 18.45 and a beta of 1.28. ServiceNow Inc has a 1-year low of $147.63 and a 1-year high of $303.17. The business’s 50 day simple moving average is $252.37 and its 200 day simple moving average is $267.08.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, October 23rd. The information technology services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.81. The business had revenue of $885.80 million for the quarter, compared to analyst estimates of $885.53 million. ServiceNow had a return on equity of 6.62% and a net margin of 1.09%. The firm’s revenue was up 31.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS. As a group, sell-side analysts predict that ServiceNow Inc will post 0.48 EPS for the current fiscal year.

In other news, Director Frederic B. Luddy sold 1,015 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $254.79, for a total transaction of $258,611.85. Following the completion of the sale, the director now directly owns 1,213 shares in the company, valued at approximately $309,060.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Fay Sien Goon sold 408 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $258.36, for a total value of $105,410.88. Following the sale, the insider now owns 41,777 shares of the company’s stock, valued at $10,793,505.72. The disclosure for this sale can be found here. Insiders sold a total of 30,108 shares of company stock valued at $8,046,050 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

ServiceNow Company Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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