Mediolanum International Funds Ltd Has $20.72 Million Position in ServiceNow, Inc. (NYSE:NOW)

Mediolanum International Funds Ltd reduced its position in shares of ServiceNow, Inc. (NYSE:NOW) by 5.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,531 shares of the information technology services provider’s stock after selling 1,252 shares during the period. Mediolanum International Funds Ltd’s holdings in ServiceNow were worth $20,715,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new stake in ServiceNow during the 1st quarter valued at $25,000. Versant Capital Management Inc increased its stake in shares of ServiceNow by 466.7% in the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 28 shares during the last quarter. DT Investment Partners LLC increased its stake in shares of ServiceNow by 77.3% in the third 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 during the last quarter. EntryPoint Capital LLC increased its stake in shares of ServiceNow by 3,900.0% in the first quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 39 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of ServiceNow in the second quarter worth $32,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NOW. Needham & Company LLC upped their price target on shares of ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler upped their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Mizuho upped their price target on shares of ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,025.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $970.22.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jacqueline P. Canney sold 353 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,467 shares of company stock worth $4,450,447 over the last ninety days. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Down 0.1 %

Shares of NYSE:NOW traded down $1.24 during midday trading on Friday, reaching $955.34. 331,098 shares of the company were exchanged, compared to its average volume of 1,280,686. ServiceNow, Inc. has a fifty-two week low of $548.44 and a fifty-two week high of $979.78. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $880.60 and a two-hundred day simple moving average of $795.09. The firm has a market cap of $196.80 billion, a PE ratio of 172.95, a P/E/G ratio of 5.04 and a beta of 0.99.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the business posted $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 7.41 earnings per share for the current year.

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.