Itau Unibanco Holding S.A. Makes New $2.91 Million Investment in ServiceNow, Inc. (NYSE:NOW)

Itau Unibanco Holding S.A. acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,700 shares of the information technology services provider’s stock, valued at approximately $2,911,000.

Other institutional investors have also modified their holdings of the company. Swedbank AB acquired a new position in ServiceNow during the first quarter valued at approximately $897,908,000. Global Assets Advisory LLC acquired a new position in shares of ServiceNow during the 1st quarter valued at $403,034,000. Vanguard Group Inc. boosted its position in ServiceNow by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after purchasing an additional 331,797 shares during the period. AustralianSuper Pty Ltd purchased a new position in ServiceNow in the second quarter valued at about $218,786,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of ServiceNow by 18.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock worth $1,239,198,000 after purchasing an additional 271,153 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NOW. Stifel Nicolaus increased their target price on ServiceNow from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. KeyCorp reduced their target price 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. Royal Bank of Canada lifted their price target on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $855.44.

ServiceNow Stock Up 2.0 %

Shares of NYSE:NOW opened at $937.36 on Friday. The company’s fifty day moving average is $822.56 and its two-hundred day moving average is $771.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $940.12. The stock has a market capitalization of $192.16 billion, a price-to-earnings ratio of 100.25, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. Equities analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 1,800 shares of the firm’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 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 the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at $9,479,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,914 shares of company stock worth $5,608,936. 0.25% of the stock is currently owned by company insiders.

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.