Mon Sep 23 17:42:57 UTC 2024: ## Bank of Montreal Invests Heavily in ServiceNow, Institutional Interest Grows

**New York, NY – September 23, 2024** – Bank of Montreal has significantly increased its stake in ServiceNow, Inc. (NYSE:NOW) by 25.5% during the second quarter, according to Holdings Channel. The fund now owns 432,027 shares of the information technology services provider, worth $330,505,000.

This move by Bank of Montreal is part of a larger trend of institutional investors showing growing confidence in ServiceNow. Other notable investments include:

* **Swedbank AB:** Acquired a new stake in ServiceNow in the first quarter, valued at $897,908,000.
* **Global Assets Advisory LLC:** Acquired a new position in ServiceNow during the first quarter worth $403,034,000.
* **Vanguard Group Inc.:** Increased its holdings in ServiceNow by 1.8% during the first quarter, now owning 18,450,570 shares valued at $14,066,715,000.
* **AustralianSuper Pty Ltd:** Acquired a new stake in shares of ServiceNow in the second quarter valued at about $218,786,000.
* **DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main:** Increased its stake in ServiceNow by 18.3% in the fourth quarter, now owning 1,754,027 shares worth $1,239,198,000.

In total, 87.18% of ServiceNow stock is currently owned by institutional investors and hedge funds.

**Insider Trading:**

While institutional investors are bullish, some insiders have recently sold shares. General Counsel Russell S. Elmer sold 1,937 shares on August 2nd, and Nicholas Tzitzon sold 1,857 shares on August 26th. However, insiders still own 0.25% of the company’s stock.

**Financial Performance:**

ServiceNow recently reported strong second quarter earnings, exceeding analysts’ expectations. The company posted $3.13 earnings per share and revenue of $2.63 billion, up 22.2% year-over-year.

**Analysts’ Outlook:**

Analysts are generally positive on ServiceNow’s prospects, with 24 analysts issuing “buy” ratings, two issuing “hold” ratings, and one issuing a “sell” rating. The consensus target price is $855.44.

**ServiceNow, Inc.** provides digital business solutions for organizations globally, including workflow automation, artificial intelligence, and performance analytics.

**To learn more about ServiceNow and its investments, visit HoldingsChannel.com.**

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