Generate Investment Management Ltd Purchases 9,436 Shares of ServiceNow, Inc. $NOW

Generate Investment Management Ltd raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 242.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,322 shares of the information technology services provider’s stock after purchasing an additional 9,436 shares during the period. Generate Investment Management Ltd’s holdings in ServiceNow were worth $13,696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of NOW. Global X Japan Co. Ltd. bought a new position in ServiceNow in the second quarter valued at approximately $30,000. Bogart Wealth LLC raised its position in shares of ServiceNow by 113.3% during the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 17 shares during the last quarter. Graybill Wealth Management LTD. bought a new position in shares of ServiceNow in the 1st quarter worth $26,000. WASHINGTON TRUST Co grew its stake in shares of ServiceNow by 620.0% during the first quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 31 shares during the period. Finally, Dagco Inc. acquired a new stake in shares of ServiceNow during the first quarter worth $33,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NOW shares. Barclays set a $1,210.00 target price on ServiceNow in a research note on Thursday, July 24th. Mizuho increased their price target on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, June 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $1,200.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. DA Davidson upped their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, FBN Securities upgraded shares of ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,122.20.

ServiceNow Stock Performance

NOW opened at $936.76 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The business has a fifty day simple moving average of $919.74 and a 200 day simple moving average of $927.82. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company has a market capitalization of $194.85 billion, a PE ratio of 117.98, a price-to-earnings-growth ratio of 4.22 and a beta of 0.91.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The company’s revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.13 earnings per share. Research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 1,097 shares of ServiceNow stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $915.11, for a total value of $1,003,875.67. Following the completion of the sale, the director directly owned 9,307 shares in the company, valued at approximately $8,516,928.77. The trade was a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the sale, the general counsel owned 4,332 shares of the company’s stock, valued at approximately $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,976 shares of company stock worth $17,049,775. 0.38% of the stock is currently owned by insiders.

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.