Nan Shan Life Insurance Co. Ltd. Has $2.70 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Nan Shan Life Insurance Co. Ltd. trimmed its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 44.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,544 shares of the information technology services provider's stock after selling 2,000 shares during the quarter. Nan Shan Life Insurance Co. Ltd.'s holdings in ServiceNow were worth $2,697,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in NOW. Quarry LP acquired a new stake in ServiceNow during the 4th quarter valued at $27,000. Atala Financial Inc purchased a new position in shares of ServiceNow during the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow during the fourth quarter valued at $32,000. Noble Wealth Management PBC purchased a new stake in ServiceNow in the 4th quarter worth about $34,000. Finally, FPC Investment Advisory Inc. boosted its position in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after acquiring an additional 29 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ServiceNow

In other news, insider Paul John Smith sold 1,184 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $980.08, for a total transaction of $1,160,414.72. Following the completion of the transaction, the insider now directly owns 4,204 shares of the company's stock, valued at approximately $4,120,256.32. This trade represents a 21.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Russell S. Elmer sold 1,023 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $988.00, for a total transaction of $1,010,724.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,280,016. The trade was a 19.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,844 shares of company stock worth $14,204,938 over the last three months. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. William Blair reiterated an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. StockNews.com lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Redburn Atlantic began coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They issued a "buy" rating for the company. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Truist Financial raised shares of ServiceNow from a "hold" rating to a "buy" rating and upped their price target for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,055.83.

ServiceNow Price Performance

NYSE NOW opened at $1,037.43 on Wednesday. The stock has a 50-day simple moving average of $850.27 and a 200 day simple moving average of $971.49. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock has a market capitalization of $214.75 billion, a PE ratio of 151.89, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business's revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.41 EPS. Research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

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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