Desjardins Global Asset Management Inc. Sells 276 Shares of ServiceNow, Inc. (NYSE:NOW)

Desjardins Global Asset Management Inc. trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW) by 19.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,147 shares of the information technology services provider’s stock after selling 276 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in ServiceNow were worth $811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NOW. AdvisorNet Financial Inc increased its stake in ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. PFG Private Wealth Management LLC bought a new stake in ServiceNow during the third quarter worth $28,000. First Capital Advisors Group LLC. bought a new stake in ServiceNow during the second quarter worth $29,000. High Net Worth Advisory Group LLC bought a new position in ServiceNow in the 1st quarter valued at $29,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of ServiceNow during the 4th quarter valued at $41,000. Institutional investors own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 5,030 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares in the company, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,164 shares of company stock valued at $9,940,303. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup increased their price target on shares of ServiceNow from $862.00 to $896.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Piper Sandler boosted their target price on ServiceNow from $750.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Oppenheimer lifted their price objective on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Jefferies Financial Group increased their target price on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Guggenheim restated a “neutral” rating on shares of ServiceNow in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $780.00.

ServiceNow Price Performance

Shares of NYSE NOW opened at $735.68 on Thursday. ServiceNow, Inc. has a 1 year low of $427.68 and a 1 year high of $815.32. The stock has a market capitalization of $151.09 billion, a P/E ratio of 87.48, a P/E/G ratio of 4.71 and a beta of 0.97. The company’s 50-day moving average is $767.53 and its 200 day moving average is $700.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the company earned $0.88 EPS. The business’s revenue was up 25.6% compared to the same quarter last year. On average, sell-side analysts expect that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

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.