Generali Powszechne Towarzystwo Emerytalne Boosts Position in ServiceNow, Inc. $NOW

Key Points

• Generali Powszechne Towarzystwo Emerytalne increased its investment in ServiceNow, Inc. by 333.3%, acquiring a total of 26,000 shares, making it the 7th largest holding in its portfolio.
• ServiceNow reported a 22.4% year-over-year revenue increase with $3.22 billion in revenue and earnings per share beating estimates at $4.09 during the last quarter.
• A majority of ServiceNow's stock, 87.18%, is now owned by hedge funds and institutional investors, indicating a strong institutional interest in the company.

Generali Powszechne Towarzystwo Emerytalne lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 333.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,000 shares of the information technology services provider's stock after purchasing an additional 20,000 shares during the quarter. ServiceNow accounts for 5.5% of Generali Powszechne Towarzystwo Emerytalne's investment portfolio, making the stock its 7th largest holding. Generali Powszechne Towarzystwo Emerytalne's holdings in ServiceNow were worth $26,730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its position in shares of ServiceNow by 1.1% during the 4th quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock valued at $2,919,000 after purchasing an additional 30 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of ServiceNow by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 3,378 shares of the information technology services provider's stock worth $2,689,000 after acquiring an additional 308 shares during the period. Flagship Harbor Advisors LLC grew its holdings in ServiceNow by 35.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,223 shares of the information technology services provider's stock valued at $1,770,000 after buying an additional 577 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in ServiceNow by 21.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,342 shares of the information technology services provider's stock valued at $5,845,000 after buying an additional 1,291 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in ServiceNow by 4.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 104,192 shares of the information technology services provider's stock valued at $82,951,000 after buying an additional 4,417 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of ServiceNow stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the completion of the sale, the chief financial officer directly owned 12,228 shares of the company's stock, valued at $10,594,950.60. The trade was a 12.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the completion of the transaction, the general counsel directly owned 4,332 shares of the company's stock, valued at approximately $3,830,614.32. The trade was a 28.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,737 shares of company stock valued at $16,798,825 over the last three months. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Up 2.7%

NYSE NOW opened at $942.56 on Wednesday. The stock's 50-day moving average price is $913.34 and its 200-day moving average price is $938.13. The company has a market capitalization of $196.05 billion, a P/E ratio of 118.71, a price-to-earnings-growth ratio of 4.13 and a beta of 0.92. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.52. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.The firm's quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the company earned $3.13 EPS. On average, equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Cantor Fitzgerald reissued an "overweight" rating and set a $1,200.00 target price on shares of ServiceNow in a research note on Thursday, July 24th. Wall Street Zen raised ServiceNow from a "hold" rating to a "buy" rating in a research note on Saturday. JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. Finally, UBS Group reduced their price target on ServiceNow from $1,100.00 to $1,075.00 and set a "buy" rating on the stock in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,121.37.

ServiceNow Company 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.

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