Caisse DE Depot ET Placement DU Quebec Purchases 7,529 Shares of ServiceNow, Inc. (NYSE:NOW)

Caisse DE Depot ET Placement DU Quebec increased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,676 shares of the information technology services provider's stock after acquiring an additional 7,529 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in ServiceNow were worth $84,677,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC lifted its stake in shares of ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider's stock valued at $5,014,302,000 after buying an additional 502,845 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of ServiceNow by 4.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,566,949 shares of the information technology services provider's stock valued at $2,295,854,000 after buying an additional 112,380 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of ServiceNow by 3.5% in the third quarter. Fisher Asset Management LLC now owns 1,662,968 shares of the information technology services provider's stock valued at $1,487,343,000 after buying an additional 56,830 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of ServiceNow by 11.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,298 shares of the information technology services provider's stock valued at $1,449,178,000 after buying an additional 167,847 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of ServiceNow by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider's stock valued at $1,203,157,000 after buying an additional 34,855 shares in the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Sanford C. Bernstein increased their target price on shares of ServiceNow from $906.00 to $913.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Piper Sandler increased their target price on shares of ServiceNow from $850.00 to $1,000.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Morgan Stanley downgraded shares of ServiceNow from an "overweight" rating to an "equal weight" rating and increased their target price for the company from $900.00 to $960.00 in a report on Monday, October 21st. BMO Capital Markets increased their target price on shares of ServiceNow from $860.00 to $1,025.00 and gave the company an "outperform" rating in a report on Thursday, October 10th. Finally, Evercore ISI raised their price objective on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus target price of $989.07.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the transaction, the director now owns 11,000 shares in the company, valued at $11,710,600. This represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,329 shares of company stock valued at $20,547,241. 0.25% of the stock is currently owned by company insiders.

ServiceNow Price Performance

Shares of NOW stock traded up $8.04 during trading hours on Friday, hitting $1,049.44. 583,092 shares of the company's stock were exchanged, compared to its average volume of 1,192,822. The company 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. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,072.84. The business's 50 day simple moving average is $963.10 and its 200-day simple moving average is $847.50. 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 issued its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm's revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 earnings per share. On average, equities research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.