Cardano Risk Management B.V. Raises Stock Position in ServiceNow, Inc. $NOW

Cardano Risk Management B.V. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 5.5% during the second quarter, Holdings Channel.com reports. The firm owned 100,667 shares of the information technology services provider’s stock after buying an additional 5,275 shares during the quarter. ServiceNow makes up approximately 1.3% of Cardano Risk Management B.V.’s portfolio, making the stock its 22nd biggest position. Cardano Risk Management B.V.’s holdings in ServiceNow were worth $103,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Global X Japan Co. Ltd. acquired a new stake in shares of ServiceNow during the second quarter valued at about $30,000. Bogart Wealth LLC increased its position in shares of ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 17 shares during the last quarter. Graybill Wealth Management LTD. acquired a new stake in shares of ServiceNow during the first quarter valued at about $26,000. WASHINGTON TRUST Co increased its position in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 31 shares during the last quarter. Finally, Dagco Inc. acquired a new stake in shares of ServiceNow during the first quarter valued at about $33,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Erste Group Bank restated a “hold” rating on shares of ServiceNow in a report on Wednesday, July 23rd. BMO Capital Markets lifted their price objective on shares of ServiceNow from $1,150.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. JMP Securities restated a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a report on Monday, August 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ServiceNow in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,122.20.

ServiceNow Trading Up 0.3%

NYSE NOW opened at $917.21 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The stock has a market capitalization of $190.78 billion, a PE ratio of 115.52, a price-to-earnings-growth ratio of 4.12 and a beta of 0.92. The firm has a 50 day moving average of $909.72 and a two-hundred day moving average of $931.43.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.13 EPS. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the completion of the sale, the insider owned 3,000 shares in the company, valued at approximately $2,599,350. The trade was a 36.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the sale, the general counsel owned 4,332 shares of the company’s stock, valued at $3,830,614.32. This represents a 28.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,737 shares of company stock worth $16,798,825. 0.38% 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.