Ilmarinen Mutual Pension Insurance Co Purchases 4,500 Shares of ServiceNow, Inc. $NOW

Key Points

• Ilmarinen Mutual Pension Insurance Co increased its stake in ServiceNow, Inc. by 12.8%, acquiring an additional 4,500 shares, bringing their total holdings to 39,784 shares valued at approximately $31.67 million.
• ServiceNow's stock is currently priced at $934.46, with a market capitalization of $194.37 billion, and the company's quarterly earnings report showed a 22.4% increase in revenue year-over-year.
• Analysts have varied ratings on ServiceNow, with one suggesting a sell recommendation at $724, while others set target prices as high as $1,200, reflecting mixed sentiments in the brokerage community.

Ilmarinen Mutual Pension Insurance Co boosted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 12.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,784 shares of the information technology services provider's stock after buying an additional 4,500 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in ServiceNow were worth $31,674,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Haverford Trust Co boosted its holdings in ServiceNow by 0.9% in the 1st quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider's stock valued at $936,000 after purchasing an additional 10 shares during the period. Ascent Group LLC boosted its holdings in ServiceNow by 0.5% in the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider's stock valued at $1,628,000 after purchasing an additional 10 shares during the period. Edgemoor Investment Advisors Inc. boosted its holdings in ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $366,000 after purchasing an additional 11 shares during the period. Integrated Investment Consultants LLC boosted its holdings in ServiceNow by 2.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider's stock valued at $358,000 after purchasing an additional 11 shares during the period. Finally, one8zero8 LLC boosted its holdings in ServiceNow by 3.2% in the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider's stock valued at $283,000 after purchasing an additional 11 shares during the period. 87.18% of the stock is owned by institutional investors.

ServiceNow Price Performance

NOW stock traded down $8.24 during trading on Friday, reaching $930.04. 711,066 shares of the company were exchanged, compared to its average volume of 1,699,172. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $193.45 billion, a price-to-earnings ratio of 117.13, a P/E/G ratio of 4.17 and a beta of 0.91. The company has a 50-day moving average of $929.66 and a two-hundred day moving average of $922.41.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the firm posted $3.13 EPS. The company's revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, equities analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

Insider Activity

In other ServiceNow news, Director Anita M. Sands sold 1,097 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $915.11, for a total transaction of $1,003,875.67. Following the sale, the director directly owned 9,307 shares of the company's stock, valued at $8,516,928.77. The trade was a 10.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Russell S. Elmer sold 1,698 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total transaction of $1,501,473.48. Following the sale, the general counsel directly owned 4,332 shares in the company, valued at $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. Over the last ninety days, insiders sold 18,976 shares of company stock worth $17,049,775. Company insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NOW. Raymond James Financial boosted their price objective on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Bank of America boosted their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Guggenheim restated a "sell" rating and issued a $724.00 target price on shares of ServiceNow in a research report on Thursday, July 17th. FBN Securities upgraded shares of ServiceNow to a "strong-buy" rating in a research report on Wednesday, June 11th. Finally, DA Davidson boosted their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

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.