Alerus Financial NA Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

Alerus Financial NA lifted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 925.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,537 shares of the information technology services provider's stock after buying an additional 3,192 shares during the period. Alerus Financial NA's holdings in ServiceNow were worth $3,163,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NOW. Versant Capital Management Inc raised its stake in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider's stock worth $27,000 after buying an additional 28 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of ServiceNow in the third quarter worth about $30,000. Ridgewood Investments LLC purchased a new stake in shares of ServiceNow during the second quarter worth about $32,000. DT Investment Partners LLC grew its holdings in ServiceNow by 77.3% during the 3rd quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock worth $35,000 after acquiring an additional 17 shares in the last quarter. Finally, American Capital Advisory LLC bought a new position in ServiceNow during the second quarter worth $39,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at approximately $2,799,853.92. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,329 shares of company stock worth $20,547,241 over the last three months. Insiders own 0.25% of the company's stock.

ServiceNow Price Performance

Shares of ServiceNow stock traded up $8.04 during trading hours on Friday, reaching $1,049.44. The stock had a trading volume of 583,092 shares, compared to its average volume of 1,192,822. The stock's 50 day moving average is $963.10 and its 200 day moving average is $846.89. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,072.84. The firm has a market capitalization of $216.18 billion, a PE ratio of 163.21, a PEG ratio of 6.02 and a beta of 0.98. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16.

ServiceNow (NYSE:NOW - Get Free Report) last posted its 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 company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow's revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. Equities analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NOW. Needham & Company LLC boosted their price target on ServiceNow from $1,075.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. BMO Capital Markets lifted their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an "outperform" rating in a research note on Thursday, October 10th. Scotiabank started coverage on ServiceNow in a research note on Tuesday, November 19th. They set a "sector outperform" rating and a $1,230.00 price target for the company. Citigroup boosted their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group upped their target price on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $989.07.

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.