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

Nippon Life Global Investors Americas Inc. raised its position in ServiceNow, Inc. (NYSE:NOW) by 8.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 72,480 shares of the information technology services provider’s stock after acquiring an additional 5,690 shares during the period. ServiceNow comprises 2.5% of Nippon Life Global Investors Americas Inc.’s portfolio, making the stock its 11th biggest position. Nippon Life Global Investors Americas Inc.’s holdings in ServiceNow were worth $57,018,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Trexquant Investment LP bought a new stake in ServiceNow during the fourth quarter worth about $1,081,000. Quest Partners LLC acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $167,000. CreativeOne Wealth LLC bought a new position in shares of ServiceNow in the fourth quarter valued at $249,000. Cambridge Investment Research Advisors Inc. increased its holdings in ServiceNow by 28.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 23,145 shares of the information technology services provider’s stock worth $16,351,000 after buying an additional 5,095 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its position in ServiceNow by 35.0% during the fourth quarter. Johnson Financial Group Inc. now owns 274 shares of the information technology services provider’s stock worth $194,000 after acquiring an additional 71 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

NOW has been the topic of several recent analyst reports. Robert W. Baird boosted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Guggenheim reaffirmed a “sell” rating and issued a $640.00 price objective on shares of ServiceNow in a research report on Monday, July 8th. JMP Securities boosted their target price on ServiceNow from $825.00 to $850.00 and gave the stock a “market outperform” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One 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 company’s stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $855.44.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of ServiceNow stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares in the company, valued at $3,027,502.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. The disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Trading Up 2.0 %

Shares of NYSE:NOW opened at $937.36 on Monday. The business’s 50 day simple moving average is $822.56 and its 200 day simple moving average 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 debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $192.16 billion, a P/E ratio of 100.25, a P/E/G ratio of 5.25 and a beta of 0.98.

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