BLI Banque de Luxembourg Investments Purchases 76,920 Shares of ServiceNow, Inc. $NOW

BLI Banque de Luxembourg Investments grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 400.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,105 shares of the information technology services provider’s stock after purchasing an additional 76,920 shares during the quarter. BLI Banque de Luxembourg Investments’ holdings in ServiceNow were worth $14,821,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NOW. Vanguard Group Inc. increased its position in shares of ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after purchasing an additional 81,752,460 shares during the last quarter. Geode Capital Management LLC increased its position in shares of ServiceNow by 404.8% during the 4th quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after purchasing an additional 18,854,775 shares during the last quarter. Norges Bank acquired a new position in shares of ServiceNow during the 4th quarter worth approximately $2,020,992,000. Capital International Investors increased its position in shares of ServiceNow by 396.0% during the 4th quarter. Capital International Investors now owns 10,393,373 shares of the information technology services provider’s stock worth $1,592,310,000 after purchasing an additional 8,297,818 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of ServiceNow by 404.3% during the 4th quarter. Fisher Asset Management LLC now owns 8,351,824 shares of the information technology services provider’s stock worth $1,279,416,000 after purchasing an additional 6,695,802 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $114.43 on Tuesday. The stock has a fifty day moving average price of $99.69 and a 200-day moving average price of $121.36. The company has a market cap of $117.98 billion, a price-to-earnings ratio of 68.20, a PEG ratio of 1.86 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. ServiceNow, Inc. has a fifty-two week low of $81.24 and a fifty-two week high of $211.48.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 EPS. As a group, equities analysts anticipate that ServiceNow, Inc. will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Anita M. Sands sold 16,445 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the sale, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. This represents a 35.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 8,927 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $89.60, for a total value of $799,859.20. Following the sale, the insider owned 29,531 shares of the company’s stock, valued at approximately $2,645,977.60. The trade was a 23.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

NOW has been the topic of several recent analyst reports. Morgan Stanley lowered their price target on ServiceNow from $210.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Jefferies Financial Group reissued a “buy” rating and set a $135.00 target price (down from $175.00) on shares of ServiceNow in a report on Thursday, April 23rd. Truist Financial decreased their target price on ServiceNow from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. TD Cowen reissued a “buy” rating and set a $140.00 target price on shares of ServiceNow in a report on Thursday, April 23rd. Finally, Barclays reissued an “overweight” rating and set a $134.00 target price (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $141.85.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.