Generate Investment Management Ltd Invests $3.09 Million in ServiceNow, Inc. (NYSE:NOW)

Generate Investment Management Ltd purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,886 shares of the information technology services provider's stock, valued at approximately $3,094,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of ServiceNow by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after purchasing an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of ServiceNow by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. FMR LLC lifted its position in shares of ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of ServiceNow by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after purchasing an additional 100,670 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of ServiceNow by 87,501.3% during the 1st quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock worth $2,141,108,000 after purchasing an additional 2,686,291 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on NOW. Piper Sandler decreased their price objective on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $1,050.00 price objective on shares of ServiceNow in a research report on Tuesday, May 6th. Wall Street Zen upgraded shares of ServiceNow from a "hold" rating to a "buy" rating in a research note on Friday. JMP Securities reiterated a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $1,048.00 price target on shares of ServiceNow in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have issued a buy rating and two have 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 $1,065.32.

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $12.12 on Friday, reaching $1,023.56. 1,514,258 shares of the stock were exchanged, compared to its average volume of 1,486,132. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average price of $985.61 and a two-hundred day moving average price of $967.23. The firm has a market capitalization of $211.86 billion, a PE ratio of 139.07, a PEG ratio of 4.65 and a beta of 0.95.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The firm's revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.41 earnings per share. As a group, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Director Anita M. Sands sold 428 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $1,013.61, for a total value of $433,825.08. Following the sale, the director now owns 10,891 shares of the company's stock, valued at $11,039,226.51. This represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Deborah Black sold 598 shares of the company's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $940.23, for a total transaction of $562,257.54. Following the completion of the sale, the director now directly owns 428 shares in the company, valued at $402,418.44. This trade represents a 58.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,716 shares of company stock valued at $6,611,245 over the last quarter. Corporate insiders own 0.38% of the company's stock.

About ServiceNow

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.