Loomis Sayles & Co. L P Purchases 95 Shares of ServiceNow, Inc. (NYSE:NOW)

Loomis Sayles & Co. L P increased its stake in ServiceNow, Inc. (NYSE:NOW) by 8.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,277 shares of the information technology services provider’s stock after purchasing an additional 95 shares during the period. Loomis Sayles & Co. L P’s holdings in ServiceNow were worth $1,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NOW. International Assets Investment Management LLC boosted its stake in ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after purchasing an additional 1,183,739 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in ServiceNow in the 2nd quarter worth approximately $218,786,000. Canada Pension Plan Investment Board boosted its stake in ServiceNow by 59.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 635,919 shares of the information technology services provider’s stock worth $500,258,000 after purchasing an additional 237,086 shares in the last quarter. abrdn plc boosted its stake in ServiceNow by 110.2% in the 3rd quarter. abrdn plc now owns 442,382 shares of the information technology services provider’s stock worth $392,477,000 after purchasing an additional 231,900 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in ServiceNow by 873.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 245,525 shares of the information technology services provider’s stock worth $219,596,000 after purchasing an additional 220,295 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other ServiceNow news, General Counsel Russell S. Elmer sold 81 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $1,016.54, for a total value of $82,339.74. Following the transaction, the general counsel now owns 6,843 shares of the company’s stock, valued at $6,956,183.22. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,329 shares of company stock valued at $20,547,241. 0.25% of the stock is currently owned by insiders.

ServiceNow Trading Down 2.7 %

Shares of NOW opened at $1,041.42 on Thursday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,072.84. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average is $958.40 and its two-hundred day moving average is $842.41. The stock has a market cap of $214.53 billion, a PE ratio of 161.96, a price-to-earnings-growth ratio of 6.04 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS. Research analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NOW has been the subject of a number of recent research reports. Canaccord Genuity Group raised their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Piper Sandler raised their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Needham & Company LLC raised their price target on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday. Truist Financial raised their price target on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group raised their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $989.07.

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.