Czech National Bank Boosts Position in ServiceNow, Inc. $NOW

Czech National Bank raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,550 shares of the information technology services provider’s stock after buying an additional 8,676 shares during the period. Czech National Bank’s holdings in ServiceNow were worth $29,144,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after acquiring an additional 30 shares in the last quarter. Sivia Capital Partners LLC raised its position in ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock valued at $861,000 after purchasing an additional 34 shares during the period. United Bank raised its position in ServiceNow by 15.5% in the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock valued at $1,562,000 after purchasing an additional 204 shares during the period. Riggs Asset Managment Co. Inc. lifted its stake in shares of ServiceNow by 2.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock worth $1,976,000 after purchasing an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its stake in shares of ServiceNow by 205.1% during the second quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock worth $931,000 after purchasing an additional 609 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Trading Up 6.4%

Shares of NOW opened at $124.91 on Friday. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $194.73. The stock has a 50-day moving average price of $106.73 and a 200 day moving average price of $105.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $129.16 billion, a P/E ratio of 78.07, a P/E/G ratio of 2.06 and a beta of 0.94.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the business earned $0.81 EPS. ServiceNow’s revenue for the quarter was up 24.0% compared to the same quarter last year. Sell-side analysts forecast that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the completion of the sale, the insider owned 12,072 shares in the company, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Paul Edward Chamberlain sold 1,500 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total transaction of $130,845.00. Following the completion of the sale, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 18,993 shares of company stock valued at $1,716,436. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NOW shares. Sanford C. Bernstein reiterated an “outperform” rating and issued a $248.00 target price (up from $236.00) on shares of ServiceNow in a research note on Thursday, July 23rd. BTIG Research reissued a “buy” rating and set a $150.00 price target on shares of ServiceNow in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on ServiceNow from $180.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of ServiceNow in a research report on Thursday, July 23rd. Finally, Bank of America began coverage on shares of ServiceNow in a research report on Monday, May 18th. They set a “buy” rating and a $130.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, ServiceNow currently has a consensus rating of “Moderate Buy” and an average price target of $143.39.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.