Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Makes New $4.08 Million Investment in ServiceNow, Inc. $NOW

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW) in the 2nd quarter, according to the company in its most recent 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 comprises approximately 0.5% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s portfolio, making the stock its 28th largest holding.

Other large investors also recently made changes to their positions in the company. Wealth Watch Advisors INC bought a new stake in ServiceNow in the third quarter valued at about $29,000. Kelleher Financial Advisors bought a new position in ServiceNow during the third quarter worth about $50,000. Pin Oak Investment Advisors Inc. boosted its holdings in 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 during the last quarter. Jupiter Wealth Management LLC bought a new position in ServiceNow during the second quarter worth about $154,000. Finally, CBIZ Investment Advisory Services LLC grew its position in shares of ServiceNow by 540.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 160 shares of the information technology services provider’s stock worth $25,000 after buying an additional 135 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, insider Paul Fipps sold 1,048 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $98.51, for a total value of $103,238.48. Following the sale, the insider directly owned 12,072 shares of the company’s stock, valued at approximately $1,189,212.72. The trade was a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent analyst reports. Weiss Ratings cut ServiceNow from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 10th. Royal Bank Of Canada reissued an “outperform” rating and set a $130.00 price objective on shares of ServiceNow in a research note on Thursday, July 23rd. Cantor Fitzgerald boosted their price objective on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Wolfe Research set a $125.00 target price on shares of ServiceNow in a research note on Thursday, April 23rd. Finally, Capital One Financial increased their target price on shares of ServiceNow from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.76.

ServiceNow Stock Performance

Shares of NOW stock opened at $124.08 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. ServiceNow, Inc. has a 52 week low of $81.24 and a 52 week high of $194.73. The company’s 50 day moving average price is $107.08 and its two-hundred day moving average price is $105.80. The company has a market capitalization of $128.29 billion, a P/E ratio of 77.55, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, analysts expect that ServiceNow, Inc. will post 2.24 earnings per share for the current fiscal year.

ServiceNow Company 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.