Banque Cantonale Vaudoise Increases Stake in ServiceNow, Inc. (NYSE:NOW)

Banque Cantonale Vaudoise boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 24.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 12,295 shares of the information technology services provider’s stock after acquiring an additional 2,392 shares during the quarter. Banque Cantonale Vaudoise’s holdings in ServiceNow were worth $10,996,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow during the 1st quarter worth approximately $25,000. Versant Capital Management Inc increased its holdings in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after buying an additional 28 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in ServiceNow in the second quarter valued at approximately $32,000. Finally, DT Investment Partners LLC raised its position in ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent research reports. Scotiabank assumed coverage on shares of ServiceNow in a research note on Tuesday. They issued a “sector outperform” rating and a $1,230.00 price objective for the company. Piper Sandler raised their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Wells Fargo & Company upped their price objective on ServiceNow from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. JMP Securities lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the company a “market outperform” rating in a report on Thursday, October 17th. Finally, KeyCorp boosted their target price on ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $983.18.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $1,004.53 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,061.66. The business’s fifty day moving average price is $935.45 and its two-hundred day moving average price is $827.30. The stock has a market cap of $206.93 billion, a PE ratio of 156.23, a price-to-earnings-growth ratio of 5.80 and a beta of 0.98.

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

Insider Buying and Selling

In related news, insider Jacqueline P. Canney sold 66 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction on Monday, August 26th. The stock was 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 in the company, valued at $3,027,502.32. This trade represents a 33.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,231 shares of company stock worth $4,947,292. 0.25% of the stock is owned by insiders.

ServiceNow 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.