KBC Group NV Acquires 63,929 Shares of ServiceNow Inc (NYSE:NOW)

KBC Group NV raised its position in shares of ServiceNow Inc (NYSE:NOW) by 275.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,151 shares of the information technology services provider’s stock after purchasing an additional 63,929 shares during the quarter. KBC Group NV’s holdings in ServiceNow were worth $23,929,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new stake in ServiceNow during the 1st quarter valued at $724,000. Arcadia Investment Management Corp MI raised its holdings in ServiceNow by 219.5% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the information technology services provider’s stock valued at $741,000 after buying an additional 1,855 shares during the period. Jennison Associates LLC raised its holdings in ServiceNow by 26.2% during the 1st quarter. Jennison Associates LLC now owns 3,036,568 shares of the information technology services provider’s stock valued at $748,484,000 after buying an additional 630,491 shares during the period. ARP Americas LP raised its holdings in ServiceNow by 959.4% during the 2nd quarter. ARP Americas LP now owns 9,386 shares of the information technology services provider’s stock valued at $2,577,000 after buying an additional 8,500 shares during the period. Finally, D.B. Root & Company LLC raised its holdings in ServiceNow by 28.4% during the 2nd quarter. D.B. Root & Company LLC now owns 3,100 shares of the information technology services provider’s stock valued at $851,000 after buying an additional 685 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

NOW opened at $260.32 on Thursday. ServiceNow Inc has a 12-month low of $147.63 and a 12-month high of $303.17. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.54. The business’s fifty day simple moving average is $275.65 and its 200-day simple moving average is $261.20. The company has a market capitalization of $49.98 billion, a price-to-earnings ratio of 1,301.60, a PEG ratio of 22.40 and a beta of 1.30.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. ServiceNow had a return on equity of 4.29% and a net margin of 0.09%. The business had revenue of $833.90 million for the quarter, compared to the consensus estimate of $831.50 million. During the same quarter in the prior year, the company earned $0.49 EPS. The business’s revenue was up 32.1% compared to the same quarter last year. On average, equities research analysts predict that ServiceNow Inc will post 0.43 EPS for the current year.

Several research firms recently weighed in on NOW. JMP Securities increased their price target on ServiceNow to $325.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Cleveland Research initiated coverage on ServiceNow in a research report on Monday, June 17th. They issued a “buy” rating on the stock. Canaccord Genuity upped their price objective on ServiceNow from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. UBS Group upped their price objective on ServiceNow to $332.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank upped their price objective on ServiceNow from $285.00 to $305.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. ServiceNow currently has an average rating of “Buy” and an average target price of $291.66.

In related news, CFO Michael Scarpelli sold 31,183 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $260.22, for a total transaction of $8,114,440.26. Following the completion of the sale, the chief financial officer now directly owns 36,200 shares in the company, valued at approximately $9,419,964. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Fay Sien Goon sold 408 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $258.36, for a total value of $105,410.88. Following the sale, the insider now owns 41,777 shares of the company’s stock, valued at $10,793,505.72. The disclosure for this sale can be found here. Insiders have sold a total of 114,208 shares of company stock worth $31,149,687 in the last three months. Corporate insiders own 1.00% of the company’s stock.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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