ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 119.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 85,419 shares of the information technology services provider’s stock after acquiring an additional 46,579 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in ServiceNow were worth $92,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Quarry LP purchased a new stake in ServiceNow during the fourth quarter worth about $27,000. Atala Financial Inc purchased a new position in shares of ServiceNow during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow during the fourth quarter worth approximately $32,000. Noble Wealth Management PBC purchased a new stake in ServiceNow in the 4th quarter valued at $34,000. Finally, FPC Investment Advisory Inc. grew its stake in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 2.1%

ServiceNow stock opened at $1,037.43 on Wednesday. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The stock has a market cap of $214.75 billion, a PE ratio of 151.89, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The firm’s 50-day simple moving average is $850.27 and its 200 day simple moving average is $971.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the firm posted $3.41 earnings per share. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has approved a stock buyback program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NOW shares. Barclays set a $1,085.00 target price on shares of ServiceNow in a research report on Wednesday, May 7th. TD Securities reissued a “buy” rating and issued a $1,100.00 price objective on shares of ServiceNow in a research report on Thursday, April 24th. Stifel Nicolaus raised their price target on ServiceNow from $975.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. William Blair restated an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,055.83.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 257 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $253,145.00. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at $2,981,595. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 191 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $985.00, for a total value of $188,135.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company’s stock, valued at approximately $4,267,020. This trade represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,844 shares of company stock worth $14,204,938 in the last three months. Corporate insiders own 0.38% of the company’s stock.

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.