Dai ichi Life Insurance Company Ltd Has $29.30 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Dai ichi Life Insurance Company Ltd raised its stake in ServiceNow, Inc. (NYSE:NOW) by 6.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 32,757 shares of the information technology services provider’s stock after buying an additional 2,047 shares during the period. ServiceNow makes up 0.7% of Dai ichi Life Insurance Company Ltd’s investment portfolio, making the stock its 27th biggest position. Dai ichi Life Insurance Company Ltd’s holdings in ServiceNow were worth $29,298,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Creekmur Asset Management LLC acquired a new stake in shares of ServiceNow during the 1st quarter valued at $25,000. Versant Capital Management Inc grew its holdings in shares of ServiceNow by 466.7% during the second quarter. Versant Capital Management Inc now owns 34 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 28 shares during the last quarter. EntryPoint Capital LLC grew its holdings in shares of ServiceNow by 3,900.0% during the first 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 last quarter. Truvestments Capital LLC acquired a new position in shares of ServiceNow in the third quarter valued at approximately $30,000. Finally, Ridgewood Investments LLC bought a new position in ServiceNow in the 2nd quarter valued at approximately $32,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Down 0.7 %

Shares of NYSE:NOW opened at $1,052.82 on Tuesday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,068.88. The company has a market capitalization of $216.88 billion, a PE ratio of 163.74, a price-to-earnings-growth ratio of 6.09 and a beta of 0.98. The business has a fifty day moving average price of $951.73 and a two-hundred day moving average price of $838.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the company posted $1.21 earnings per share. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. Analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,799,853.92. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,787 shares of company stock valued at $17,841,028 over the last three months. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of several recent research reports. StockNews.com upgraded shares of ServiceNow from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Evercore ISI increased their price objective on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JMP Securities lifted their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a report on Thursday, October 17th. Citigroup increased their target price on shares of ServiceNow from $1,068.00 to $1,071.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Canaccord Genuity Group boosted their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $989.07.

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.