Robeco Institutional Asset Management B.V. Boosts Stake in ServiceNow, Inc. (NYSE:NOW)

Robeco Institutional Asset Management B.V. raised its position in shares of ServiceNow, Inc. (NYSE:NOW) by 13.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 195,933 shares of the information technology services provider’s stock after buying an additional 22,544 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in ServiceNow were worth $207,712,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in ServiceNow during the third quarter valued at about $30,000. DT Investment Partners LLC grew its position in ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the period. Oakworth Capital Inc. grew its position in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 14 shares during the period. Dunhill Financial LLC boosted its position in shares of ServiceNow by 70.0% in the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after buying an additional 21 shares during the period. Finally, Friedenthal Financial purchased a new stake in shares of ServiceNow in the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the firm’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 value of $2,372,993.40. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at approximately $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,731 shares of company stock worth $21,016,751. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Up 2.7 %

Shares of ServiceNow stock opened at $1,171.00 on Wednesday. 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 business’s 50 day simple moving average is $1,082.77 and its 200-day simple moving average is $950.94. The stock has a market capitalization of $241.23 billion, a price-to-earnings ratio of 182.11, a PEG ratio of 5.11 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

Analyst Ratings Changes

NOW has been the subject of several analyst reports. Royal Bank of Canada upped their target price on ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Truist Financial upped their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Jefferies Financial Group upped their target price on ServiceNow from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Evercore ISI increased their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,105.79.

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.