Nan Shan Life Insurance Co. Ltd. Increases Holdings in ServiceNow, Inc. $NOW

Key Points

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Nan Shan Life Insurance Co. Ltd. grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1,864.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,971 shares of the information technology services provider's stock after buying an additional 47,427 shares during the period. Nan Shan Life Insurance Co. Ltd.'s holdings in ServiceNow were worth $39,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Bogart Wealth LLC lifted its holdings in shares of ServiceNow by 113.3% in the 1st quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 17 shares during the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of ServiceNow in the 1st quarter valued at about $26,000. Quarry LP purchased a new stake in shares of ServiceNow in the 4th quarter valued at about $27,000. WASHINGTON TRUST Co lifted its holdings in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the last quarter. Finally, Dagco Inc. purchased a new stake in shares of ServiceNow in the 1st quarter valued at about $33,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Robert W. Baird boosted their target price on ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. TD Securities reissued a "buy" rating and issued a $1,100.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Piper Sandler boosted their target price on ServiceNow from $1,120.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Citigroup boosted their price target on ServiceNow from $1,160.00 to $1,234.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Needham & Company LLC boosted their price target on ServiceNow from $1,050.00 to $1,200.00 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 assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and an average target price of $1,115.20.

ServiceNow Stock Performance

NOW opened at $890.73 on Tuesday. The stock has a market cap of $185.27 billion, a P/E ratio of 112.18, a P/E/G ratio of 3.91 and a beta of 0.93. 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 stock's 50 day simple moving average is $964.30 and its 200 day simple moving average is $932.15. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly 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. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. The company's revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.13 EPS. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lawrence Jackson sold 757 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $990.50, for a total value of $749,808.50. Following the sale, the director owned 588 shares in the company, valued at $582,414. This represents a 56.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 67 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $2,604,945.39. The trade was a 2.17% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,038 shares of company stock worth $5,971,973. 0.38% of the stock is owned by insiders.

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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