Alerus Financial NA Purchases 3,192 Shares of ServiceNow, Inc. (NYSE:NOW)

Alerus Financial NA raised its position in ServiceNow, Inc. (NYSE:NOW) by 925.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,537 shares of the information technology services provider’s stock after acquiring an additional 3,192 shares during the period. Alerus Financial NA’s holdings in ServiceNow were worth $3,163,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Erste Asset Management GmbH acquired a new position in shares of ServiceNow in the third quarter valued at $64,407,000. Acropolis Investment Management LLC bought a new stake in ServiceNow in the 3rd quarter valued at $159,000. L.M. Kohn & Company increased its holdings in ServiceNow by 3.2% in the 3rd quarter. L.M. Kohn & Company now owns 1,908 shares of the information technology services provider’s stock valued at $1,706,000 after buying an additional 60 shares during the period. Kolinsky Wealth Management LLC raised its stake in shares of ServiceNow by 2.0% in the 3rd quarter. Kolinsky Wealth Management LLC now owns 1,016 shares of the information technology services provider’s stock valued at $909,000 after buying an additional 20 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of ServiceNow by 8.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 94,676 shares of the information technology services provider’s stock worth $84,677,000 after acquiring an additional 7,529 shares during the period. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 10.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the completion of the sale, the director now owns 42,920 shares in the company, valued at $43,740,630.40. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,329 shares of company stock worth $20,547,241. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of analyst reports. Stifel Nicolaus upped their target price on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Oppenheimer upped their price objective on ServiceNow from $825.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Jefferies Financial Group increased their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Canaccord Genuity Group boosted their price target on ServiceNow from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Scotiabank started coverage on ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $989.07.

ServiceNow Price Performance

Shares of NOW stock opened at $1,049.44 on Friday. The firm has a market cap of $216.18 billion, a price-to-earnings ratio of 163.21, a PEG ratio of 6.02 and a beta of 0.98. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,072.84. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $963.10 and a 200 day moving average price of $846.89.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the company earned $1.21 EPS. ServiceNow’s revenue was up 22.2% on a year-over-year basis. Research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current 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.