Industrial Alliance Investment Management Inc. Has $1.48 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Industrial Alliance Investment Management Inc. grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,945 shares of the information technology services provider’s stock after buying an additional 71 shares during the quarter. ServiceNow accounts for approximately 0.6% of Industrial Alliance Investment Management Inc.’s holdings, making the stock its 13th biggest holding. Industrial Alliance Investment Management Inc.’s holdings in ServiceNow were worth $1,483,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of ServiceNow during the 4th quarter worth about $29,000. EntryPoint Capital LLC grew its holdings in 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 acquiring an additional 39 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 32 shares during the last quarter. Disciplined Equity Management Inc. bought a new stake in ServiceNow during the 4th quarter worth about $35,000. Finally, Sachetta LLC bought a new stake in ServiceNow during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on NOW shares. Morgan Stanley increased their price objective on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. UBS Group reduced their target price on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Robert W. Baird raised their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. BMO Capital Markets lifted their price objective on shares of ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Truist Financial lifted their price objective on shares of ServiceNow from $750.00 to $780.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $842.22.

Insiders Place Their Bets

In other ServiceNow news, insider Paul John Smith sold 125 shares of ServiceNow stock in a transaction on Monday, May 13th. The shares were sold at an average price of $727.38, for a total transaction of $90,922.50. Following the completion of the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at $2,263,606.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul John Smith sold 125 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $727.38, for a total value of $90,922.50. Following the completion of the transaction, the insider now directly owns 3,112 shares of the company’s stock, valued at approximately $2,263,606.56. The disclosure for this sale can be found here. Insiders sold a total of 7,330 shares of company stock valued at $5,482,012 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Down 0.0 %

Shares of NYSE:NOW traded down $0.36 during midday trading on Tuesday, hitting $798.70. The stock had a trading volume of 1,190,781 shares, compared to its average volume of 1,335,941. ServiceNow, Inc. has a 12 month low of $527.24 and a 12 month high of $850.33. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $744.53 and its 200-day simple moving average is $752.06. The company has a market cap of $164.53 billion, a P/E ratio of 85.05, a PEG ratio of 5.17 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period last year, the business earned $0.77 earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current fiscal year.

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.