FUKOKU MUTUAL LIFE INSURANCE Co Has $1.57 Million Position in ServiceNow, Inc. (NYSE:NOW)

FUKOKU MUTUAL LIFE INSURANCE Co grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,477 shares of the information technology services provider’s stock after purchasing an additional 131 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in ServiceNow were worth $1,566,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Modera Wealth Management LLC purchased a new position in ServiceNow in the third quarter valued at about $244,000. Pallas Capital Advisors LLC increased its holdings in ServiceNow by 8.0% in the third quarter. Pallas Capital Advisors LLC now owns 2,410 shares of the information technology services provider’s stock worth $2,305,000 after buying an additional 179 shares during the last quarter. Strategic Blueprint LLC bought a new position in ServiceNow during the third quarter valued at approximately $241,000. Valmark Advisers Inc. lifted its stake in ServiceNow by 6.0% in the third quarter. Valmark Advisers Inc. now owns 2,332 shares of the information technology services provider’s stock valued at $2,086,000 after acquiring an additional 133 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its stake in shares of ServiceNow by 6.9% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,277 shares of the information technology services provider’s stock worth $1,159,000 after purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the transaction, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Russell S. Elmer sold 2,511 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total transaction of $2,541,357.99. Following the completion of the sale, the general counsel now owns 4,332 shares of the company’s stock, valued at approximately $4,384,373.88. This represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,706 shares of company stock worth $17,644,106 in the last ninety days. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NYSE NOW opened at $941.79 on Thursday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a 50 day moving average of $1,044.39 and a 200-day moving average of $981.23. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $194.01 billion, a price-to-earnings ratio of 137.89, a PEG ratio of 4.51 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated a share buyback program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent research reports. Needham & Company LLC upped their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Truist Financial raised their price objective on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. Citigroup dropped their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow 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.