14,475 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by M&G Plc

M&G Plc bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,475 shares of the information technology services provider’s stock, valued at approximately $11,030,000.

Several other large investors have also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of ServiceNow in the 4th quarter worth about $29,000. AdvisorNet Financial Inc grew its stake in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares in the last quarter. Disciplined Equity Management Inc. acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $35,000. Sachetta LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $35,000. Finally, PFG Private Wealth Management LLC acquired a new stake in shares of ServiceNow in the first quarter valued at about $38,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

ServiceNow stock traded up $12.43 during mid-day trading on Friday, hitting $751.20. 1,187,234 shares of the company’s stock traded hands, compared to its average volume of 1,239,988. The firm has a 50 day moving average price of $740.55 and a 200 day moving average price of $747.86. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The company has a market cap of $154.00 billion, a PE ratio of 80.34, a price-to-earnings-growth ratio of 4.71 and a beta of 0.99. ServiceNow, Inc. has a one year low of $527.24 and a one year high of $815.32.

ServiceNow (NYSE:NOW) last issued its quarterly 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. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. On average, equities analysts forecast that ServiceNow, Inc. will post 6.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NOW shares. Wolfe Research reiterated an “outperform” rating and issued a $830.00 target price on shares of ServiceNow in a research note on Friday, May 10th. UBS Group lowered their price objective on ServiceNow from $920.00 to $875.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $900.00 price objective on shares of ServiceNow in a research note on Monday, July 8th. Robert W. Baird raised their price objective on ServiceNow from $870.00 to $885.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Finally, BMO Capital Markets lowered their price objective on ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-three have given 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 $817.50.

Insider Activity

In other news, insider Paul John Smith sold 190 shares of ServiceNow stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the transaction, the insider now directly owns 3,010 shares in the company, valued at approximately $2,163,527.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Paul John Smith sold 190 shares of ServiceNow stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total value of $136,568.20. Following the transaction, the insider now directly owns 3,010 shares in the company, valued at approximately $2,163,527.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Bedi sold 215 shares of ServiceNow stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total value of $150,500.00. Following the completion of the transaction, the insider now owns 15,892 shares in the company, valued at $11,124,400. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is owned by company insiders.

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.