Caisse DE Depot ET Placement DU Quebec Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

Caisse DE Depot ET Placement DU Quebec boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 94,676 shares of the information technology services provider’s stock after purchasing an additional 7,529 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in ServiceNow were worth $84,677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Westwood Holdings Group Inc. bought a new position in shares of ServiceNow during the first quarter valued at $271,000. EverSource Wealth Advisors LLC boosted its holdings in shares of ServiceNow by 6.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 770 shares of the information technology services provider’s stock valued at $534,000 after acquiring an additional 47 shares during the last quarter. Marcum Wealth LLC grew its stake in shares of ServiceNow by 2.8% in the second quarter. Marcum Wealth LLC now owns 632 shares of the information technology services provider’s stock worth $497,000 after acquiring an additional 17 shares during the period. Beese Fulmer Investment Management Inc. raised its holdings in shares of ServiceNow by 15.9% during the second quarter. Beese Fulmer Investment Management Inc. now owns 546 shares of the information technology services provider’s stock valued at $430,000 after purchasing an additional 75 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in ServiceNow during the second quarter valued at approximately $500,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,049.44 on Friday. The company has a 50 day simple moving average of $963.10 and a two-hundred day simple moving average of $846.89. The stock 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. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,072.84.

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

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This trade represents a 10.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,329 shares of company stock worth $20,547,241. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research reports. TD Cowen boosted their target price on shares of ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group lifted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on ServiceNow from $820.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Evercore ISI boosted their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays lifted their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $989.07.

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.