Meiji Yasuda Life Insurance Co Purchases 134 Shares of ServiceNow, Inc. (NYSE:NOW)

Meiji Yasuda Life Insurance Co raised its position in ServiceNow, Inc. (NYSE:NOW) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,284 shares of the information technology services provider’s stock after buying an additional 134 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in ServiceNow were worth $4,157,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new stake in shares of ServiceNow during the first quarter valued at approximately $25,000. Versant Capital Management Inc increased its position in shares of ServiceNow by 466.7% during the 2nd quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC raised its stake in shares of ServiceNow by 3,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 40 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 39 shares during the period. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of ServiceNow in the 4th quarter worth about $29,000. Finally, Ridgewood Investments LLC bought a new position in ServiceNow during the second quarter valued at about $32,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 0.6 %

Shares of NOW opened at $886.77 on Wednesday. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $899.61. The firm has a market cap of $181.79 billion, a price-to-earnings ratio of 94.84, a PEG ratio of 5.25 and a beta of 0.98. The firm has a 50 day moving average price of $812.61 and a 200-day moving average price of $768.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 earnings per share. As a group, equities research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current year.

Insider Activity

In related news, CFO Gina Mastantuono sold 1,800 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total transaction of $1,485,000.00. Following the transaction, the chief financial officer now owns 11,490 shares in the company, valued at approximately $9,479,250. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $779.81, for a total transaction of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares in the company, valued at $5,252,800.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,914 shares of company stock valued at $5,608,936. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

NOW has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Citigroup increased their price objective on ServiceNow from $909.00 to $911.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Truist Financial boosted their target price on ServiceNow from $750.00 to $780.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. KeyCorp dropped their price target on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $855.44.

About ServiceNow

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.