Conning Inc. Purchases 53 Shares of ServiceNow, Inc. (NYSE:NOW)

Conning Inc. lifted its position in ServiceNow, Inc. (NYSE:NOW) by 5.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,088 shares of the information technology services provider’s stock after acquiring an additional 53 shares during the quarter. Conning Inc.’s holdings in ServiceNow were worth $856,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. M&G Plc bought a new stake in shares of ServiceNow in the 1st quarter worth about $11,030,000. Smithfield Trust Co lifted its holdings in shares of ServiceNow by 36.4% in the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock worth $691,000 after acquiring an additional 262 shares during the last quarter. New Mexico Educational Retirement Board lifted its holdings in shares of ServiceNow by 9.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,650 shares of the information technology services provider’s stock worth $8,882,000 after acquiring an additional 1,000 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of ServiceNow by 375.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after acquiring an additional 1,078 shares during the last quarter. Finally, Summa Corp. bought a new stake in shares of ServiceNow in the 4th quarter worth about $381,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW traded down $17.63 on Wednesday, hitting $814.11. 863,011 shares of the company’s stock traded hands, compared to its average volume of 1,290,812. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a 1-year low of $527.24 and a 1-year high of $850.33. The firm’s 50-day moving average price is $784.05 and its two-hundred day moving average price is $759.14. The firm has a market capitalization of $166.89 billion, a PE ratio of 87.07, a P/E/G ratio of 4.82 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its 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. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the business posted $0.77 EPS. The business’s revenue was up 22.2% compared to the same quarter last year. As a group, analysts expect that ServiceNow, Inc. will post 6.84 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the topic of several recent analyst reports. Guggenheim reaffirmed a “sell” rating and issued a $640.00 price target on shares of ServiceNow in a research note on Monday, July 8th. Stifel Nicolaus raised their price target on shares of ServiceNow from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. KeyCorp reduced their price target on shares of ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird raised their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $849.62.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the transaction, the insider now directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Christopher Bedi sold 215 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the sale, the insider now owns 15,892 shares of the company’s stock, valued at $11,124,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now directly owns 4,019 shares in the company, valued at approximately $3,319,372.48. The disclosure for this sale can be found here. Insiders sold a total of 7,272 shares of company stock worth $5,600,700 in the last three months. Company insiders own 0.25% of the company’s stock.

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.