Generali Investments Management Co LLC Has $4.95 Million Stock Holdings in ServiceNow, Inc. $NOW

by · The Cerbat Gem

Generali Investments Management Co LLC grew its stake in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 12.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,865 shares of the information technology services provider’s stock after purchasing an additional 5,681 shares during the period. ServiceNow comprises about 1.1% of Generali Investments Management Co LLC’s holdings, making the stock its 15th biggest holding. Generali Investments Management Co LLC’s holdings in ServiceNow were worth $4,951,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Covenant Asset Management LLC raised its holdings in shares of ServiceNow by 169.2% during the fourth quarter. Covenant Asset Management LLC now owns 20,863 shares of the information technology services provider’s stock worth $3,196,000 after acquiring an additional 13,114 shares in the last quarter. Norges Bank purchased a new position in ServiceNow in the fourth quarter valued at about $2,020,992,000. World Investment Advisors grew its stake in ServiceNow by 411.7% in the fourth quarter. World Investment Advisors now owns 47,955 shares of the information technology services provider’s stock valued at $7,346,000 after purchasing an additional 38,583 shares in the last quarter. Moors & Cabot Inc. increased its position in ServiceNow by 387.7% in the 4th quarter. Moors & Cabot Inc. now owns 45,630 shares of the information technology services provider’s stock worth $6,990,000 after purchasing an additional 36,274 shares during the last quarter. Finally, Torray Investment Partners LLC increased its position in ServiceNow by 390.5% in the 4th quarter. Torray Investment Partners LLC now owns 40,629 shares of the information technology services provider’s stock worth $6,224,000 after purchasing an additional 32,345 shares during the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 2.0%

NOW stock opened at $127.33 on Tuesday. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $194.73. The company has a market cap of $131.66 billion, a PE ratio of 79.58, a price-to-earnings-growth ratio of 2.20 and a beta of 0.94. The business’s 50-day simple moving average is $106.56 and its 200 day simple moving average is $105.72. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

ServiceNow (NYSE:NOW – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.86 by $0.04. ServiceNow had a return on equity of 16.45% and a net margin of 11.34%.The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, research analysts anticipate that ServiceNow, Inc. will post 2.24 earnings per share for the current year.

Insider Transactions at ServiceNow

In related news, Director Anita M. Sands sold 16,445 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $90.14, for a total value of $1,482,352.30. Following the completion of the transaction, the director directly owned 30,090 shares of the company’s stock, valued at $2,712,312.60. This trade represents a 35.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Fipps sold 1,048 shares of ServiceNow stock in a transaction on Monday, May 18th. The stock was sold at an average price of $98.51, for a total transaction of $103,238.48. Following the sale, the insider owned 12,072 shares in the company, valued at $1,189,212.72. This represents a 7.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 18,993 shares of company stock valued at $1,716,436. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NOW shares. Robert W. Baird lifted their price target on ServiceNow from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Canaccord Genuity Group dropped their price objective on ServiceNow from $200.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on ServiceNow from $180.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Cantor Fitzgerald lifted their target price on shares of ServiceNow from $122.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Finally, Truist Financial boosted their target price on shares of ServiceNow from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average price target of $143.39.

View Our Latest Stock Report on ServiceNow

ServiceNow Profile

(Free Report)

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.

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