Generate Investment Management Ltd raised its position in ServiceNow, Inc. (NYSE:NOW – Free Report) by 193.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 183,184 shares of the information technology services provider’s stock after acquiring an additional 120,684 shares during the quarter. ServiceNow comprises about 0.9% of Generate Investment Management Ltd’s portfolio, making the stock its 27th biggest holding. Generate Investment Management Ltd’s holdings in ServiceNow were worth $19,152,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of ServiceNow by 1.1% in the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider’s stock valued at $2,919,000 after acquiring an additional 30 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of ServiceNow by 4.2% in the second quarter. Sivia Capital Partners LLC now owns 837 shares of the information technology services provider’s stock worth $861,000 after acquiring an additional 34 shares during the last quarter. United Bank increased its position in shares of ServiceNow by 15.5% during the second quarter. United Bank now owns 1,519 shares of the information technology services provider’s stock worth $1,562,000 after purchasing an additional 204 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its position in shares of ServiceNow by 2.2% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,922 shares of the information technology services provider’s stock worth $1,976,000 after purchasing an additional 42 shares in the last quarter. Finally, Nebula Research & Development LLC raised its stake in ServiceNow by 205.1% in the 2nd quarter. Nebula Research & Development LLC now owns 906 shares of the information technology services provider’s stock valued at $931,000 after purchasing an additional 609 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Wolfe Research set a $125.00 price objective on ServiceNow in a report on Thursday, April 23rd. Piper Sandler dropped their target price on shares of ServiceNow from $200.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. Wall Street Zen cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. DA Davidson reissued a “buy” rating and issued a $190.00 price target on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, TD Cowen reissued a “buy” rating and issued a $140.00 price target on shares of ServiceNow in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.17.
Insiders Place Their Bets
In other news, insider Jacqueline P. Canney sold 8,927 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $89.60, for a total transaction of $799,859.20. Following the completion of the transaction, the insider directly owned 29,531 shares in the company, valued at approximately $2,645,977.60. This represents a 23.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the sale, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 28,071 shares of company stock valued at $2,529,956. 0.34% of the stock is owned by company insiders.
ServiceNow Trading Down 2.2%
NOW opened at $92.96 on Tuesday. The stock has a market capitalization of $95.84 billion, a PE ratio of 55.40, a P/E/G ratio of 1.58 and a beta of 0.94. ServiceNow, Inc. has a one year low of $81.24 and a one year high of $211.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50 day moving average price is $99.62 and its 200 day moving average price is $116.97.
ServiceNow (NYSE:NOW – Get Free Report) last posted its earnings results on Wednesday, April 22nd. The information technology services provider reported $0.97 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.97. ServiceNow had a return on equity of 18.16% and a net margin of 12.59%.The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, equities research analysts expect that ServiceNow, Inc. will post 2.34 EPS for the current year.
ServiceNow Profile
ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.
The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.
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