Nippon Life Global Investors Americas Inc. Purchases 5,690 Shares of ServiceNow, Inc. (NYSE:NOW)

Nippon Life Global Investors Americas Inc. boosted its position in ServiceNow, Inc. (NYSE:NOW) by 8.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,480 shares of the information technology services provider’s stock after purchasing an additional 5,690 shares during the period. ServiceNow accounts for about 2.5% of Nippon Life Global Investors Americas Inc.’s portfolio, making the stock its 11th biggest holding. Nippon Life Global Investors Americas Inc.’s holdings in ServiceNow were worth $57,018,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new position in shares of ServiceNow during the first quarter worth $25,000. Versant Capital Management Inc raised its position in ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in ServiceNow during the 4th quarter worth $29,000. EntryPoint Capital LLC lifted its holdings in ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after buying an additional 39 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of ServiceNow in the 2nd quarter valued at about $32,000. 87.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NOW has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their price objective on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company boosted their price target on shares of ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Royal Bank of Canada increased their price objective on shares of ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $900.00 target price on shares of ServiceNow in a report on Monday, September 9th. Finally, KeyCorp decreased their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average price target of $855.44.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock valued at $5,608,936 over the last ninety days. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Up 2.0 %

ServiceNow stock opened at $937.36 on Monday. The firm has a market capitalization of $192.16 billion, a price-to-earnings ratio of 100.25, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The firm’s fifty day moving average price is $822.56 and its two-hundred day moving average price is $771.66. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $940.12. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS. On average, equities research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal 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.