Triasima Portfolio Management inc. Increases Position in ServiceNow, Inc. (NYSE:NOW)

Triasima Portfolio Management inc. boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 44.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,487 shares of the information technology services provider’s stock after purchasing an additional 1,694 shares during the period. Triasima Portfolio Management inc.’s holdings in ServiceNow were worth $4,368,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider’s stock valued at $2,141,108,000 after acquiring an additional 2,686,291 shares during the last quarter. Norges Bank bought a new position in ServiceNow in the fourth quarter worth about $2,603,360,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of ServiceNow by 1,586.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock valued at $742,965,000 after purchasing an additional 877,875 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of ServiceNow by 6.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of ServiceNow by 36.7% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider’s stock valued at $1,940,464,000 after buying an additional 491,861 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NOW. Oppenheimer restated an “outperform” rating and set a $1,100.00 price target (up from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Bank of America reduced their target price on ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $1,003.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,048.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Finally, UBS Group reiterated a “buy” rating and set a $1,025.00 price target (up from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,068.23.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 2,050 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the sale, the chief executive officer directly owned 6,614 shares of the company’s stock, valued at $6,693,434.14. This represents a 23.66% 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 428 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total transaction of $433,825.08. Following the completion of the transaction, the director owned 10,891 shares in the company, valued at $11,039,226.51. This represents a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,601 shares of company stock valued at $6,577,363. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Trading Down 0.5%

NYSE NOW opened at $957.31 on Wednesday. The firm’s 50 day moving average price is $1,007.54 and its two-hundred day moving average price is $957.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.12 and a current ratio of 1.12. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The stock has a market cap of $198.14 billion, a price-to-earnings ratio of 130.07, a PEG ratio of 4.42 and a beta of 0.94.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. ServiceNow’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.41 EPS. Equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS 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.