AIA Group Ltd Sells 793 Shares of ServiceNow, Inc. (NYSE:NOW)

AIA Group Ltd cut its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 17.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,836 shares of the information technology services provider’s stock after selling 793 shares during the quarter. AIA Group Ltd’s holdings in ServiceNow were worth $2,710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. RB Capital Management LLC raised its stake in ServiceNow by 25.2% during the 1st quarter. RB Capital Management LLC now owns 954 shares of the information technology services provider’s stock valued at $531,000 after purchasing an additional 192 shares during the period. Zions Bancorporation N.A. raised its stake in ServiceNow by 17.9% during the 1st quarter. Zions Bancorporation N.A. now owns 875 shares of the information technology services provider’s stock valued at $487,000 after purchasing an additional 133 shares during the period. Brown Brothers Harriman & Co. raised its stake in ServiceNow by 728.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,921 shares of the information technology services provider’s stock valued at $1,070,000 after purchasing an additional 1,689 shares during the period. Parkside Financial Bank & Trust increased its stake in ServiceNow by 9.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 350 shares of the information technology services provider’s stock worth $195,000 after acquiring an additional 29 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in ServiceNow by 0.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,671 shares of the information technology services provider’s stock worth $6,499,000 after acquiring an additional 86 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of a number of research reports. KeyCorp initiated coverage on ServiceNow in a research note on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 price objective on the stock. Wells Fargo & Company lifted their price objective on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research note on Tuesday. Mizuho lifted their price objective on ServiceNow from $750.00 to $820.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. JMP Securities lifted their price objective on ServiceNow from $665.00 to $825.00 and gave the stock a “market outperform” rating in a research note on Monday, January 22nd. Finally, Guggenheim reaffirmed a “neutral” rating on shares of ServiceNow in a research note on Monday. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $780.37.

ServiceNow Stock Down 0.7 %

Shares of NOW stock traded down $5.09 during mid-day trading on Thursday, hitting $731.36. The stock had a trading volume of 787,517 shares, compared to its average volume of 1,168,301. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month high of $815.32. The firm has a market capitalization of $150.21 billion, a P/E ratio of 87.68, a price-to-earnings-growth ratio of 4.71 and a beta of 0.97. The firm’s 50-day moving average is $767.53 and its two-hundred day moving average is $700.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.06 and a quick ratio of 1.06.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the business earned $0.88 EPS. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, analysts predict that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Paul John Smith sold 1,795 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total value of $1,402,002.70. Following the completion of the transaction, the insider now directly owns 994 shares of the company’s stock, valued at approximately $776,373.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the transaction, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is currently owned by company insiders.

About ServiceNow

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.