Generali Powszechne Towarzystwo Emerytalne Acquires New Holdings in ServiceNow, Inc. (NYSE:NOW)

Key Points

• Generali Powszechne Towarzystwo Emerytalne invested approximately $4.78 million in ServiceNow by purchasing 6,000 shares, making it the 24th biggest position in their portfolio.
• ServiceNow's stock experienced a 3.1% decline, with the current trading price at $914.03 and a market capitalization of $190.12 billion.
• The company reported $4.09 earnings per share for the last quarter, exceeding analyst expectations of $3.57, alongside a revenue of $3.22 billion, reflecting a 22.4% year-over-year growth.

Generali Powszechne Towarzystwo Emerytalne bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,000 shares of the information technology services provider's stock, valued at approximately $4,777,000. ServiceNow comprises about 1.5% of Generali Powszechne Towarzystwo Emerytalne's investment portfolio, making the stock its 24th biggest position.

Several other large investors also recently modified their holdings of NOW. Quarry LP purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $27,000. Bogart Wealth LLC raised its holdings in ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 17 shares during the last quarter. Graybill Wealth Management LTD. purchased a new position in ServiceNow in the 1st quarter worth approximately $26,000. Heck Capital Advisors LLC purchased a new position in ServiceNow in the 4th quarter worth approximately $37,000. Finally, WASHINGTON TRUST Co raised its holdings in ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock worth $29,000 after acquiring an additional 31 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. UBS Group cut their target price on shares of ServiceNow from $1,125.00 to $1,100.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. Mizuho lifted their target price on shares of ServiceNow from $1,050.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Royal Bank Of Canada lifted their target price on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, Citigroup boosted their price objective on shares of ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,115.20.

Insiders Place Their Bets

In other news, Director Anita M. Sands sold 239 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $1,050.00, for a total transaction of $250,950.00. Following the transaction, the director directly owned 10,404 shares of the company's stock, valued at approximately $10,924,200. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William R. Mcdermott sold 2,050 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,693,434.14. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,990 shares of company stock valued at $6,047,567 over the last quarter. Corporate insiders own 0.38% of the company's stock.

ServiceNow Trading Up 0.7%

Shares of NYSE:NOW traded up $5.95 during trading on Wednesday, reaching $911.07. The company's stock had a trading volume of 1,067,095 shares, compared to its average volume of 1,683,416. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a 12 month low of $678.66 and a 12 month high of $1,198.09. The firm's 50 day simple moving average is $990.76 and its two-hundred day simple moving average is $947.93. The stock has a market capitalization of $189.50 billion, a PE ratio of 114.74, a price-to-earnings-growth ratio of 4.16 and a beta of 0.93.

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