ServiceNow, Inc. (NYSE:NOW) Holdings Lifted by KBC Group NV

KBC Group NV grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 174,620 shares of the information technology services provider’s stock after buying an additional 10,261 shares during the period. ServiceNow accounts for about 0.5% of KBC Group NV’s investment portfolio, making the stock its 29th biggest holding. KBC Group NV owned 0.08% of ServiceNow worth $185,118,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Redhawk Wealth Advisors Inc. lifted its stake in shares of ServiceNow by 2.2% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 10 shares during the period. Catalyst Financial Partners LLC lifted its position in ServiceNow by 1.0% in the third quarter. Catalyst Financial Partners LLC now owns 1,146 shares of the information technology services provider’s stock worth $1,025,000 after purchasing an additional 11 shares during the period. First Affirmative Financial Network boosted its stake in ServiceNow by 1.4% during the 3rd quarter. First Affirmative Financial Network now owns 895 shares of the information technology services provider’s stock valued at $801,000 after purchasing an additional 12 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of ServiceNow by 14.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 94 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 12 shares during the period. Finally, BluePointe Capital Management LLC raised its stake in shares of ServiceNow by 0.6% in the 3rd quarter. BluePointe Capital Management LLC now owns 2,014 shares of the information technology services provider’s stock worth $1,801,000 after buying an additional 12 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,124.64 on Monday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $1,077.07 and a 200 day simple moving average of $943.86. The firm has a market capitalization of $231.68 billion, a price-to-earnings ratio of 174.91, a PEG ratio of 5.11 and a beta of 0.99.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOW. Canaccord Genuity Group raised their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Royal Bank of Canada lifted their price objective on shares of ServiceNow from $1,045.00 to $1,210.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Cantor Fitzgerald initiated coverage on shares of ServiceNow in a research report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target on the stock. Finally, Barclays increased their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,093.34.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. This represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 2,229 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $11,710,600. This represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,731 shares of company stock worth $21,016,751 over the last three months. Company insiders own 0.25% of the company’s stock.

About ServiceNow

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.