Norinchukin Bank The grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,256 shares of the information technology services provider’s stock after acquiring an additional 290 shares during the quarter. Norinchukin Bank The’s holdings in ServiceNow were worth $8,130,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gradient Investments LLC increased its stake in ServiceNow by 807.3% during the 1st quarter. Gradient Investments LLC now owns 19,769 shares of the information technology services provider’s stock worth $9,887,000 after purchasing an additional 17,590 shares in the last quarter. Chartwell Investment Partners LLC increased its position in shares of ServiceNow by 1.0% during the fourth quarter. Chartwell Investment Partners LLC now owns 22,014 shares of the information technology services provider’s stock worth $12,117,000 after acquiring an additional 213 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of ServiceNow by 3.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 84,433 shares of the information technology services provider’s stock valued at $46,474,000 after purchasing an additional 2,458 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of ServiceNow by 27.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 39,511 shares of the information technology services provider’s stock worth $21,746,000 after buying an additional 8,546 shares during the period. Finally, ProShare Advisors LLC lifted its position in shares of ServiceNow by 9.6% in the fourth quarter. ProShare Advisors LLC now owns 36,666 shares of the information technology services provider’s stock worth $20,182,000 after purchasing an additional 3,218 shares in the last quarter. 85.69% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on NOW. Oppenheimer restated a “buy” rating and issued a $610.00 price target on shares of ServiceNow in a research note on Tuesday, May 11th. Zacks Investment Research upgraded shares of ServiceNow from a “sell” rating to a “hold” rating and set a $560.00 price target for the company in a research report on Friday, February 26th. Needham & Company LLC lowered their target price on ServiceNow from $595.00 to $591.00 and set a “buy” rating for the company in a research report on Thursday, April 29th. Exane BNP Paribas began coverage on shares of ServiceNow in a research note on Thursday, April 22nd. They set an “outperform” rating and a $680.00 price target for the company. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $695.00 price objective on shares of ServiceNow in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $603.83.
ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 28th. The information technology services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.17. ServiceNow had a net margin of 3.15% and a return on equity of 9.32%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the business posted $1.05 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. Research analysts predict that ServiceNow, Inc. will post 1.2 EPS for the current year.
In other ServiceNow news, Director Frederic B. Luddy sold 16,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 6th. The stock was sold at an average price of $510.46, for a total transaction of $8,422,590.00. Following the completion of the transaction, the director now owns 811 shares in the company, valued at approximately $413,983.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Edward Chamberlain sold 75 shares of the firm’s stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $521.00, for a total value of $39,075.00. Following the transaction, the director now owns 9,424 shares of the company’s stock, valued at approximately $4,909,904. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,654 shares of company stock worth $16,420,885. 0.72% of the stock is currently owned by insiders.
ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform that offers workflow automation, artificial intelligence, machine learning, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.
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