ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Covea Finance

Covea Finance boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 583.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,200 shares of the information technology services provider’s stock after buying an additional 42,000 shares during the period. ServiceNow accounts for 1.9% of Covea Finance’s investment portfolio, making the stock its 17th largest position. Covea Finance’s holdings in ServiceNow were worth $44,004,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after acquiring an additional 331,797 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of ServiceNow by 18.3% during the 4th 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 during the period. Bank of New York Mellon Corp increased its position in shares of ServiceNow by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock worth $1,203,157,000 after purchasing an additional 34,855 shares during the last quarter. Fisher Asset Management LLC raised its holdings in ServiceNow by 7.5% in the 4th quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock valued at $1,023,315,000 after buying an additional 101,485 shares during the period. Finally, Swedbank AB lifted its position in ServiceNow by 10.3% in the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after buying an additional 120,983 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Down 0.6 %

NYSE:NOW traded down $6.04 during midday trading on Friday, hitting $938.59. 854,087 shares of the company were exchanged, compared to its average volume of 1,280,261. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $949.00. The company has a market capitalization of $192.41 billion, a PE ratio of 100.38, a price-to-earnings-growth ratio of 5.63 and a beta of 0.99. 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 company has a fifty day simple moving average of $861.16 and a 200 day simple moving average of $786.18.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of ServiceNow from $935.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets boosted their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays raised their price target on ServiceNow from $890.00 to $980.00 and gave the stock an “overweight” rating in a research report on Friday. Evercore ISI boosted their price objective on ServiceNow from $850.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $900.00 target price on shares of ServiceNow in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $880.04.

Insiders Place Their Bets

In other news, 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on 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 transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock valued at $5,608,936 over the last quarter. Company insiders own 0.25% of the company’s stock.

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.