Asset Management One Co. Ltd. Acquires 881 Shares of ServiceNow, Inc. (NYSE:NOW)

Asset Management One Co. Ltd. lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,293 shares of the information technology services provider’s stock after acquiring an additional 881 shares during the quarter. Asset Management One Co. Ltd.’s holdings in ServiceNow were worth $70,461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NOW. PFG Private Wealth Management LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth $28,000. First Capital Advisors Group LLC. acquired a new stake in shares of ServiceNow in the second quarter valued at about $29,000. High Net Worth Advisory Group LLC acquired a new stake in shares of ServiceNow in the first quarter valued at about $29,000. AdvisorNet Financial Inc increased its stake in shares of ServiceNow by 266.7% in the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the period. Finally, Steward Financial Group LLC increased its stake in shares of ServiceNow by 125.0% in the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 35 shares during the period. 87.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOW has been the subject of several recent research reports. Barclays increased their price target on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. Truist Financial upped their target price on ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. The Goldman Sachs Group upped their target price on ServiceNow from $800.00 to $910.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. KeyCorp began coverage on ServiceNow in a research report on Thursday, March 21st. They set an “overweight” rating and a $1,000.00 target price on the stock. Finally, Citigroup upped their target price on ServiceNow from $862.00 to $896.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Two research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $762.96.

ServiceNow Stock Performance

NYSE:NOW traded down $1.47 during trading hours on Thursday, reaching $757.69. The stock had a trading volume of 1,022,064 shares, compared to its average volume of 1,206,568. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day simple moving average of $770.47 and a 200 day simple moving average of $686.12. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month high of $815.32. The stock has a market cap of $155.33 billion, a P/E ratio of 92.51, a price-to-earnings-growth ratio of 4.82 and a beta of 0.97.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, research analysts forecast that ServiceNow, Inc. will post 6.11 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now directly owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The disclosure for this sale can be found here. Insiders sold 13,164 shares of company stock valued at $9,940,303 over the last three months. Company insiders own 0.24% of the company’s stock.

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.