ServiceNow, Inc. $NOW Shares Purchased by Nan Shan Life Insurance Co. Ltd.

Nan Shan Life Insurance Co. Ltd. raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 1,864.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,971 shares of the information technology services provider’s stock after buying an additional 47,427 shares during the quarter. Nan Shan Life Insurance Co. Ltd.’s holdings in ServiceNow were worth $39,784,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NOW. MIG Capital LLC grew its position in shares of ServiceNow by 350.8% in the first quarter. MIG Capital LLC now owns 1,402 shares of the information technology services provider’s stock valued at $1,116,000 after purchasing an additional 1,091 shares during the period. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of ServiceNow in the first quarter valued at $475,000. Disciplina Capital Management LLC grew its position in shares of ServiceNow by 132.3% in the first quarter. Disciplina Capital Management LLC now owns 72 shares of the information technology services provider’s stock valued at $57,000 after purchasing an additional 41 shares during the period. Quantbot Technologies LP purchased a new stake in shares of ServiceNow in the first quarter valued at $11,349,000. Finally, Korea Investment CORP grew its position in shares of ServiceNow by 1.3% in the first quarter. Korea Investment CORP now owns 165,404 shares of the information technology services provider’s stock valued at $131,685,000 after purchasing an additional 2,195 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In other news, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $860.00, for a total transaction of $258,000.00. Following the sale, the director directly owned 9,886 shares of the company’s stock, valued at approximately $8,501,960. The trade was a 2.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 67 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $860.57, for a total value of $57,658.19. Following the completion of the sale, the insider directly owned 3,027 shares of the company’s stock, valued at approximately $2,604,945.39. This represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,038 shares of company stock valued at $5,971,973. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research report on Monday, August 4th. Wall Street Zen upgraded ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, July 29th. Truist Financial upgraded ServiceNow from a “hold” rating to a “buy” rating and lifted their target price for the company from $950.00 to $1,200.00 in a report on Thursday, May 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a report on Thursday, April 24th. Finally, FBN Securities upgraded ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,115.20.

ServiceNow Stock Up 2.7%

Shares of NYSE NOW opened at $890.73 on Tuesday. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The firm has a market cap of $185.27 billion, a price-to-earnings ratio of 112.18, a PEG ratio of 3.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s 50-day simple moving average is $964.30 and its 200-day simple moving average is $932.15.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the company earned $3.13 earnings per share. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.