The Manufacturers Life Insurance Company Acquires 2,257 Shares of ServiceNow, Inc. (NYSE:NOW)

The Manufacturers Life Insurance Company raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,410 shares of the information technology services provider’s stock after purchasing an additional 2,257 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of ServiceNow worth $141,907,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NOW. Morling Financial Advisors LLC grew its stake in ServiceNow by 2.5% in the 2nd quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock worth $415,000 after acquiring an additional 13 shares in the last quarter. Optas LLC grew its stake in ServiceNow by 1.7% in the first quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock worth $621,000 after purchasing an additional 14 shares in the last quarter. Cedar Wealth Management LLC increased its holdings in ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after purchasing an additional 14 shares during the period. Financial Advocates Investment Management raised its position in ServiceNow by 2.7% during the 2nd quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock valued at $415,000 after purchasing an additional 14 shares in the last quarter. Finally, Ndwm LLC lifted its holdings in shares of ServiceNow by 0.6% in the 2nd quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock worth $1,900,000 after buying an additional 14 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the completion of the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the completion of the transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul John Smith sold 187 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $795.58, for a total value of $148,773.46. Following the completion of the transaction, the insider now directly owns 3,779 shares of the company’s stock, valued at $3,006,496.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,914 shares of company stock valued at $5,608,936. 0.25% of the stock is owned by insiders.

ServiceNow Stock Down 0.3 %

ServiceNow stock opened at $881.95 on Friday. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $945.46. The company has a market cap of $180.80 billion, a PE ratio of 94.33, a PEG ratio of 5.55 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50-day simple moving average is $837.59 and its two-hundred day simple moving average is $776.38.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.28. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Equities analysts anticipate that ServiceNow, Inc. will post 6.78 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on NOW shares. KeyCorp cut their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Truist Financial boosted their price target on shares of ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Guggenheim reiterated a “sell” rating and set a $640.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. Piper Sandler boosted their price objective on shares of ServiceNow from $830.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Citigroup increased their target price on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $855.44.

ServiceNow Company 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.