Dai ichi Life Insurance Company Ltd Boosts Stock Position in ServiceNow, Inc. (NYSE:NOW)

Dai ichi Life Insurance Company Ltd lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,710 shares of the information technology services provider’s stock after purchasing an additional 1,389 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in ServiceNow were worth $24,159,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Morling Financial Advisors LLC grew its stake in ServiceNow by 2.5% during the second quarter. Morling Financial Advisors LLC now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 13 shares in the last quarter. Optas LLC boosted its stake in shares of ServiceNow by 1.7% in the 1st quarter. Optas LLC now owns 815 shares of the information technology services provider’s stock valued at $621,000 after purchasing an additional 14 shares in the last quarter. Cedar Wealth Management LLC grew its position in ServiceNow by 5.5% during the 1st quarter. Cedar Wealth Management LLC now owns 268 shares of the information technology services provider’s stock worth $204,000 after acquiring an additional 14 shares during the last quarter. Financial Advocates Investment Management increased its position in shares of ServiceNow by 2.7% in the second quarter. Financial Advocates Investment Management now owns 527 shares of the information technology services provider’s stock valued at $415,000 after acquiring an additional 14 shares during the period. Finally, Ndwm LLC increased its stake in shares of ServiceNow by 0.6% during the second quarter. Ndwm LLC now owns 2,415 shares of the information technology services provider’s stock valued at $1,900,000 after buying an additional 14 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of ServiceNow from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Robert W. Baird lifted their price target on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. KeyCorp decreased their price objective on ServiceNow from $950.00 to $920.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. BMO Capital Markets boosted their target price on shares of ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $835.00 price target on shares of ServiceNow in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $849.62.

Insider Transactions at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at $9,479,250. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the completion of the sale, the chief financial officer now owns 11,490 shares of the company’s stock, valued at $9,479,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 6,914 shares of company stock worth $5,608,936 in the last quarter. Company insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NOW opened at $878.95 on Friday. The firm has a fifty day simple moving average of $807.22 and a two-hundred day simple moving average of $766.50. The firm has a market cap of $181.06 billion, a PE ratio of 94.01, a P/E/G ratio of 5.25 and a beta of 0.98. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $889.52.

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

About ServiceNow

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.