Bank of Montreal Can Buys 87,826 Shares of ServiceNow, Inc. (NYSE:NOW)

Bank of Montreal Can lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 25.5% during the second quarter, Holdings Channel reports. The fund owned 432,027 shares of the information technology services provider’s stock after acquiring an additional 87,826 shares during the quarter. Bank of Montreal Can’s holdings in ServiceNow were worth $330,505,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Swedbank AB acquired a new stake in shares of ServiceNow in the first quarter worth $897,908,000. Global Assets Advisory LLC acquired a new position in ServiceNow during the 1st quarter worth $403,034,000. Vanguard Group Inc. boosted its holdings in ServiceNow by 1.8% during 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 period. AustralianSuper Pty Ltd acquired a new stake in shares of ServiceNow in the second quarter valued at about $218,786,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of ServiceNow by 18.3% in 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 during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares in the company, valued at approximately $5,252,800.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the sale, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction dated 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 completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $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 three months. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 2.0 %

NOW opened at $937.36 on Monday. The firm has a market cap of $192.16 billion, a price-to-earnings ratio of 100.25, a PEG ratio of 5.25 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s 50-day simple moving average is $822.56 and its 200-day simple moving average is $771.66. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $940.12.

ServiceNow (NYSE:NOW) last issued 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. The firm had revenue of $2.63 billion for 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 company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share. Equities research analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOW. Canaccord Genuity Group restated a “buy” rating and set a $835.00 target price on shares of ServiceNow in a research note on Tuesday, July 23rd. Wells Fargo & Company boosted their target price on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. TD Cowen upped their target price on shares of ServiceNow from $870.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Piper Sandler raised their price target on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $855.44.

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.