Factory Mutual Insurance Co. Sells 1,800 Shares of ServiceNow, Inc. (NYSE:NOW)

Factory Mutual Insurance Co. decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,700 shares of the information technology services provider’s stock after selling 1,800 shares during the period. Factory Mutual Insurance Co.’s holdings in ServiceNow were worth $55,426,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of ServiceNow during the 4th quarter valued at about $29,000. AdvisorNet Financial Inc boosted its stake in shares of ServiceNow by 266.7% during the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Sachetta LLC bought a new stake in shares of ServiceNow during the 4th quarter valued at about $35,000. Disciplined Equity Management Inc. bought a new stake in ServiceNow during the fourth quarter worth about $35,000. Finally, Fortitude Family Office LLC bought a new stake in ServiceNow during the fourth quarter worth about $41,000. Institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NOW. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a research note on Monday, April 15th. Jefferies Financial Group boosted their price objective on shares of ServiceNow from $885.00 to $900.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. UBS Group dropped their price objective on shares of ServiceNow from $920.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Stifel Nicolaus reissued a “buy” rating and set a $820.00 price objective on shares of ServiceNow in a research note on Wednesday, March 20th. Finally, Morgan Stanley boosted their price objective on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $814.48.

Insider Activity at ServiceNow

In related news, insider Paul John Smith sold 190 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Paul John Smith sold 190 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederic B. Luddy sold 598 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $741.92, for a total transaction of $443,668.16. Following the completion of the transaction, the director now owns 428 shares of the company’s stock, valued at $317,541.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Performance

Shares of NOW traded up $11.88 during mid-day trading on Tuesday, hitting $751.47. 495,623 shares of the company traded hands, compared to its average volume of 1,280,093. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50-day moving average price of $723.67 and a two-hundred day moving average price of $739.59. ServiceNow, Inc. has a 1 year low of $527.24 and a 1 year high of $815.32. The stock has a market cap of $154.05 billion, a price-to-earnings ratio of 80.34, a P/E/G ratio of 4.70 and a beta of 0.96.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. Equities analysts anticipate that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

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.