ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 25.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 432,027 shares of the information technology services provider’s stock after buying an additional 87,826 shares during the period. Bank of Montreal Can owned 0.21% of ServiceNow worth $330,505,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Trexquant Investment LP bought a new position in ServiceNow in the 4th quarter worth approximately $1,081,000. Quest Partners LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at $167,000. CreativeOne Wealth LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at $249,000. Cambridge Investment Research Advisors Inc. lifted its holdings in ServiceNow by 28.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 23,145 shares of the information technology services provider’s stock worth $16,351,000 after purchasing an additional 5,095 shares during the period. Finally, Johnson Financial Group Inc. grew its position in ServiceNow by 35.0% in the 4th quarter. Johnson Financial Group Inc. now owns 274 shares of the information technology services provider’s stock valued at $194,000 after buying an additional 71 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,027,502.32. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock worth $5,608,936 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NOW. BMO Capital Markets boosted their price target on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus increased their price target on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. TD Cowen raised their target price on ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, KeyCorp dropped their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $855.44.

ServiceNow Stock Up 2.0 %

Shares of ServiceNow stock opened at $937.36 on Monday. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $940.12. The company has a market cap of $192.16 billion, a P/E ratio of 100.25, a P/E/G ratio of 5.25 and a beta of 0.98. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $822.56 and a 200 day moving average price of $771.66.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. As a group, analysts expect that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

ServiceNow Company 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.