Nippon Life Global Investors Americas Inc. acquired a new stake in ServiceNow Inc (NYSE:NOW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,430 shares of the information technology services provider’s stock, valued at approximately $1,621,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in shares of ServiceNow by 162.5% during the fourth quarter. American Century Companies Inc. now owns 1,771,319 shares of the information technology services provider’s stock worth $230,962,000 after buying an additional 1,096,491 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in ServiceNow by 3.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,085,501 shares of the information technology services provider’s stock valued at $127,579,000 after purchasing an additional 38,301 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in ServiceNow by 2.6% in the 3rd quarter. Janus Henderson Group PLC now owns 882,934 shares of the information technology services provider’s stock valued at $103,776,000 after purchasing an additional 22,406 shares in the last quarter. Legal & General Group Plc boosted its holdings in ServiceNow by 2.2% in the 3rd quarter. Legal & General Group Plc now owns 698,975 shares of the information technology services provider’s stock valued at $82,151,000 after purchasing an additional 14,823 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in ServiceNow by 3.2% in the 3rd quarter. Swiss National Bank now owns 626,200 shares of the information technology services provider’s stock valued at $73,597,000 after purchasing an additional 19,600 shares in the last quarter.
A number of research firms have recently issued reports on NOW. Argus lifted their price target on shares of ServiceNow to $201.00 and gave the company a “buy” rating in a research report on Tuesday. William Blair restated an “outperform” rating on shares of ServiceNow in a research report on Friday, March 9th. UBS Group set a $180.00 price target on ServiceNow and gave the company a “buy” rating in a report on Thursday, March 1st. Barclays boosted their price objective on shares of ServiceNow from $158.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Finally, Credit Suisse Group reissued a “buy” rating and set a $165.00 price objective on shares of ServiceNow in a research note on Sunday, February 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $150.79.
Shares of ServiceNow Inc (NYSE NOW) traded up $1.38 on Wednesday, hitting $175.34. 1,402,799 shares of the stock traded hands, compared to its average volume of 2,220,000. The company has a market capitalization of $30,630.00, a price-to-earnings ratio of 269.75, a PEG ratio of 38.93 and a beta of 1.14. ServiceNow Inc has a 52 week low of $83.42 and a 52 week high of $176.56. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.15 and a quick ratio of 1.15.
ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 31st. The information technology services provider reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. ServiceNow had a negative net margin of 7.71% and a negative return on equity of 23.78%. The business had revenue of $546.37 million for the quarter, compared to the consensus estimate of $532.74 million. During the same period in the prior year, the company posted $0.25 earnings per share. ServiceNow’s revenue was up 41.7% compared to the same quarter last year. sell-side analysts expect that ServiceNow Inc will post 0.1 EPS for the current year.
In other ServiceNow news, Director Frederic B. Luddy sold 170,000 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $129.43, for a total transaction of $22,003,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frederic B. Luddy sold 32,500 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $173.95, for a total transaction of $5,653,375.00. Following the sale, the director now owns 260,791 shares in the company, valued at $45,364,594.45. The disclosure for this sale can be found here. Insiders sold 660,308 shares of company stock worth $95,837,498 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.
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ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.
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