Great West Life Assurance Co. Can Increases Holdings in ServiceNow, Inc. (NYSE:NOW)

Great West Life Assurance Co. Can increased its position in ServiceNow, Inc. (NYSE:NOW) by 2.7% in the 1st quarter, HoldingsChannel reports. The fund owned 180,103 shares of the information technology services provider’s stock after purchasing an additional 4,650 shares during the period. Great West Life Assurance Co. Can’s holdings in ServiceNow were worth $83,714,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Mach 1 Financial Group LLC bought a new position in ServiceNow in the 1st quarter worth about $18,589,000. Graham Capital Wealth Management LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at about $218,418,000. High Net Worth Advisory Group LLC bought a new stake in shares of ServiceNow during the 1st quarter valued at about $29,000. Barrett & Company Inc. bought a new stake in shares of ServiceNow during the 1st quarter valued at about $28,000. Finally, Larson Financial Group LLC boosted its position in shares of ServiceNow by 153.8% during the 1st quarter. Larson Financial Group LLC now owns 66 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 87.14% of the company’s stock.

Insider Buying and Selling

In related news, insider Christopher Bedi sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $560.85, for a total value of $560,850.00. Following the transaction, the insider now owns 14,121 shares of the company’s stock, valued at $7,919,762.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, General Counsel Russell S. Elmer sold 1,223 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $546.99, for a total value of $668,968.77. Following the transaction, the general counsel now owns 4,136 shares of the company’s stock, valued at $2,262,350.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Bedi sold 1,000 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $560.85, for a total transaction of $560,850.00. Following the completion of the transaction, the insider now directly owns 14,121 shares in the company, valued at approximately $7,919,762.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,951 shares of company stock valued at $10,147,437. 0.24% of the stock is owned by insiders.

ServiceNow Stock Performance

Shares of NOW stock opened at $599.32 on Friday. The company has a 50 day moving average price of $570.17 and a 200-day moving average price of $510.99. ServiceNow, Inc. has a 52 week low of $337.00 and a 52 week high of $614.36. The firm has a market capitalization of $122.11 billion, a PE ratio of 86.36, a P/E/G ratio of 6.04 and a beta of 1.01. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.21.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.13 billion. ServiceNow had a net margin of 17.76% and a return on equity of 11.07%. As a group, equities research analysts expect that ServiceNow, Inc. will post 3.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NOW shares. Wells Fargo & Company lifted their price target on ServiceNow from $625.00 to $650.00 in a research report on Thursday, July 27th. Jefferies Financial Group boosted their target price on ServiceNow from $525.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Evercore ISI lifted their price target on ServiceNow from $550.00 to $650.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. Morgan Stanley increased their price objective on ServiceNow from $586.00 to $630.00 in a research note on Thursday, July 27th. Finally, Mizuho lifted their target price on shares of ServiceNow from $510.00 to $620.00 in a research note on Monday, July 17th. Two analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $591.38.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools.