Generali Investments Management Co LLC Acquires 5,681 Shares of ServiceNow, Inc. $NOW

Generali Investments Management Co LLC raised its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 12.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,865 shares of the information technology services provider’s stock after purchasing an additional 5,681 shares during the quarter. ServiceNow accounts for 1.1% of Generali Investments Management Co LLC’s portfolio, making the stock its 15th largest holding. Generali Investments Management Co LLC’s holdings in ServiceNow were worth $4,951,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of ServiceNow by 404.5% during the 4th quarter. Vanguard Group Inc. now owns 101,963,384 shares of the information technology services provider’s stock worth $15,619,771,000 after buying an additional 81,752,460 shares during the period. State Street Corp grew its position in ServiceNow by 406.6% in the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after acquiring an additional 38,441,898 shares during the period. Price T Rowe Associates Inc. MD grew its position in ServiceNow by 371.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after acquiring an additional 25,517,218 shares during the period. Geode Capital Management LLC raised its stake in ServiceNow by 404.8% during the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after acquiring an additional 18,854,775 shares in the last quarter. Finally, Morgan Stanley raised its stake in ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after acquiring an additional 17,514,679 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Performance

Shares of NYSE:NOW opened at $127.33 on Tuesday. The stock has a market capitalization of $131.66 billion, a P/E ratio of 79.58, a P/E/G ratio of 2.20 and a beta of 0.94. ServiceNow, Inc. has a 1-year low of $81.24 and a 1-year high of $194.73. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $106.56 and a two-hundred day moving average price of $105.72.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 EPS. Equities analysts predict that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Paul Edward Chamberlain sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $87.23, for a total value of $130,845.00. Following the transaction, the director directly owned 44,930 shares in the company, valued at $3,919,243.90. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $90.14, for a total transaction of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares in the company, valued at approximately $2,712,312.60. The trade was a 35.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,993 shares of company stock valued at $1,716,436 over the last ninety days. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NOW. Stifel Nicolaus lowered their target price on shares of ServiceNow from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. TD Cowen reissued a “buy” rating and set a $140.00 price target on shares of ServiceNow in a report on Friday, July 17th. Sanford C. Bernstein restated an “outperform” rating and issued a $248.00 price target (up from $236.00) on shares of ServiceNow in a research report on Thursday, July 23rd. Mizuho decreased their price objective on shares of ServiceNow from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Finally, KeyCorp reaffirmed an “underweight” rating on shares of ServiceNow in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.39.

ServiceNow Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.