Rakuten Securities Inc. Purchases Shares of 239 ServiceNow, Inc. (NYSE:NOW)

Rakuten Securities Inc. purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, HoldingsChannel reports. The firm purchased 239 shares of the information technology services provider’s stock, valued at approximately $169,000.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in ServiceNow by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after purchasing an additional 122,577 shares during the last quarter. State Street Corp grew its stake in ServiceNow by 1.8% during the 1st quarter. State Street Corp now owns 8,082,154 shares of the information technology services provider’s stock valued at $3,755,904,000 after purchasing an additional 141,744 shares during the last quarter. Morgan Stanley grew its stake in ServiceNow by 4.3% during the 4th quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock valued at $2,745,763,000 after purchasing an additional 288,522 shares during the last quarter. FMR LLC grew its stake in ServiceNow by 17.3% during the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after purchasing an additional 595,697 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of ServiceNow by 2.3% in the first quarter. Geode Capital Management LLC now owns 3,589,941 shares of the information technology services provider’s stock worth $1,663,879,000 after buying an additional 79,037 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 1.2 %

NYSE NOW opened at $735.68 on Thursday. ServiceNow, Inc. has a one year low of $427.68 and a one year high of $815.32. The company has a 50-day simple moving average of $767.53 and a 200-day simple moving average of $700.42. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $151.09 billion, a PE ratio of 87.48, a price-to-earnings-growth ratio of 4.71 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. ServiceNow had a net margin of 19.30% and a return on equity of 11.85%. ServiceNow’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the firm posted $0.88 EPS. On average, equities analysts forecast that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Insider Transactions at ServiceNow

In other news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the transaction, the chief executive officer now owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ServiceNow news, insider Paul John Smith sold 1,180 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $767.12, for a total value of $905,201.60. Following the completion of the sale, the insider now directly owns 1,392 shares in the company, valued at $1,067,831.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock valued at $9,940,303 in the last quarter. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of recent research reports. Stifel Nicolaus restated a “buy” rating and issued a $820.00 target price on shares of ServiceNow in a research note on Wednesday, March 20th. UBS Group upped their target price on ServiceNow from $885.00 to $920.00 and gave the stock a “buy” rating in a research note on Monday. Piper Sandler upped their target price on ServiceNow from $750.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Barclays upped their target price on ServiceNow from $765.00 to $870.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Finally, The Goldman Sachs Group upped their target price on ServiceNow from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average price target of $780.00.

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.