ServiceNow, Inc. $NOW Shares Sold by Nissay Asset Management Corp Japan ADV

Key Points

• Nissay Asset Management Corp Japan ADV reduced its stake in ServiceNow, Inc. by 23.6%, holding 65,243 shares valued at $51.94 million after selling 20,176 shares in the first quarter.
• ServiceNow recently reported earnings of $4.09 per share, exceeding analysts' expectations significantly, with a revenue increase of 22.4% year-over-year to $3.22 billion.
• Analysts have mixed ratings for ServiceNow, with one strong buy, twenty-nine buy ratings, and a consensus price target of $1,115.20.

Nissay Asset Management Corp Japan ADV trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 23.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,243 shares of the information technology services provider's stock after selling 20,176 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in ServiceNow were worth $51,943,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NOW. Brighton Jones LLC increased its stake in shares of ServiceNow by 1.1% during the fourth quarter. Brighton Jones LLC now owns 2,753 shares of the information technology services provider's stock worth $2,919,000 after acquiring an additional 30 shares during the period. Cary Street Partners Financial LLC acquired a new position in ServiceNow during the fourth quarter worth about $625,000. Centiva Capital LP grew its position in ServiceNow by 1,300.0% during the fourth quarter. Centiva Capital LP now owns 1,680 shares of the information technology services provider's stock worth $1,781,000 after buying an additional 1,560 shares during the period. Corton Capital Inc. acquired a new position in ServiceNow during the fourth quarter worth about $214,000. Finally, CoreCap Advisors LLC grew its position in ServiceNow by 142.0% during the fourth quarter. CoreCap Advisors LLC now owns 1,256 shares of the information technology services provider's stock worth $1,332,000 after buying an additional 737 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Trading Up 2.9%

Shares of NOW traded up $26.25 on Monday, hitting $940.05. 1,635,851 shares of the stock traded hands, compared to its average volume of 1,711,194. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $195.53 billion, a P/E ratio of 118.39, a P/E/G ratio of 4.12 and a beta of 0.91. The stock's 50 day moving average is $936.79 and its two-hundred day moving average is $922.19. 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 announced its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company's quarterly 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 earnings per share. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NOW. Guggenheim restated a "sell" rating and set 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. Wall Street Zen lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Bank of America upped their target price on shares of ServiceNow from $1,110.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Mizuho upped 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,115.20.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 1,762 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total transaction of $1,526,684.90. Following the transaction, the chief financial officer owned 12,228 shares of the company's stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the 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 transaction, the general counsel directly owned 4,332 shares in the company, valued at approximately $3,830,614.32. This represents a 28.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,976 shares of company stock valued at $17,049,775. 0.38% of the stock is owned by corporate insiders.

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.