Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new stake in ServiceNow, Inc. (NYSE:NOW – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 41,105 shares of the information technology services provider’s stock, valued at approximately $4,081,000. ServiceNow makes up approximately 0.5% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s investment portfolio, making the stock its 28th largest holding.
Several other institutional investors and hedge funds also recently made changes to their positions in NOW. Wealth Watch Advisors INC acquired a new position in ServiceNow in the third quarter valued at about $29,000. Kelleher Financial Advisors bought a new stake in ServiceNow during the third quarter worth about $50,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of ServiceNow by 20.7% during the third quarter. Pin Oak Investment Advisors Inc. now owns 134 shares of the information technology services provider’s stock worth $123,000 after buying an additional 23 shares in the last quarter. Jupiter Wealth Management LLC bought a new position in shares of ServiceNow in the second quarter valued at approximately $154,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in shares of ServiceNow by 540.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.
ServiceNow Trading Down 2.5%
NOW stock opened at $124.08 on Friday. The company has a market cap of $128.29 billion, a P/E ratio of 77.55, a PEG ratio of 2.18 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $107.08 and a 200-day moving average of $105.80.
Analyst Ratings Changes
A number of equities research analysts recently commented on NOW shares. Jefferies Financial Group restated a “buy” rating and set a $140.00 price target (up from $135.00) on shares of ServiceNow in a research report on Thursday, July 23rd. Morgan Stanley set a $180.00 price objective on ServiceNow in a research report on Tuesday, July 21st. Guggenheim raised ServiceNow from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Wednesday, July 1st. TD Cowen restated a “buy” rating and set a $140.00 target price on shares of ServiceNow in a report on Friday, July 17th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $157.00 target price on shares of ServiceNow in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.76.
Insiders Place Their Bets
In other ServiceNow news, insider Paul Fipps sold 1,048 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $98.51, for a total transaction of $103,238.48. Following the transaction, the insider directly owned 12,072 shares in the company, valued at approximately $1,189,212.72. This represents a 7.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.34% of the company’s stock.
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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