Nippon Life Global Investors Americas Inc. acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,780 shares of the information technology services provider's stock, valued at approximately $1,666,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. J.Safra Asset Management Corp purchased a new stake in ServiceNow during the 2nd quarter worth approximately $147,000. Flputnam Investment Management Co. acquired a new position in ServiceNow during the 2nd quarter valued at approximately $9,914,000. Global Retirement Partners LLC purchased a new position in shares of ServiceNow in the second quarter worth $7,911,000. 1ST Source Bank purchased a new position in shares of ServiceNow in the second quarter worth $1,508,000. Finally, Lynch Asset Management Inc. purchased a new position in shares of ServiceNow in the second quarter worth $4,137,000. 87.18% of the stock is owned by hedge funds and other institutional investors.
ServiceNow Trading Up 0.1%
NYSE NOW opened at $124.08 on Monday. The company has a market capitalization of $128.29 billion, a PE ratio of 77.55, a P/E/G ratio of 2.18 and a beta of 0.94. The company has a fifty day moving average of $107.08 and a 200 day moving average of $105.59. ServiceNow, Inc. has a 1 year low of $81.24 and a 1 year high of $194.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.
ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm's revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. Research analysts forecast that ServiceNow, Inc. will post 2.24 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on NOW shares. Barclays reissued an "overweight" rating and set a $134.00 price objective (up from $132.00) on shares of ServiceNow in a report on Tuesday, May 5th. Morgan Stanley set a $180.00 price target on ServiceNow in a research report on Tuesday, July 21st. Raymond James Financial lowered their price target on ServiceNow from $160.00 to $130.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. Jefferies Financial Group reissued a "buy" rating and issued a $140.00 price objective (up from $135.00) on shares of ServiceNow in a report on Thursday, July 23rd. Finally, Citic Securities reduced their price objective on ServiceNow from $168.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $143.76.
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ServiceNow Company Profile
(
Free Report)
ServiceNow NYSE: NOW is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.
The company's flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.
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