Asset Management One Co. Ltd. Buys 2,433 Shares of ServiceNow, Inc. $NOW

Asset Management One Co. Ltd. grew its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,625 shares of the information technology services provider’s stock after buying an additional 2,433 shares during the period. Asset Management One Co. Ltd.’s holdings in ServiceNow were worth $109,619,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NOW. Nuveen LLC acquired a new position in shares of ServiceNow during the 1st quarter worth approximately $1,817,535,000. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in ServiceNow by 1,586.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 933,209 shares of the information technology services provider’s stock valued at $742,965,000 after acquiring an additional 877,875 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in ServiceNow by 131.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,480,526 shares of the information technology services provider’s stock valued at $1,178,706,000 after acquiring an additional 840,731 shares in the last quarter. Parnassus Investments LLC acquired a new position in ServiceNow in the 1st quarter valued at $519,806,000. Finally, Amundi raised its holdings in ServiceNow by 61.9% in the 1st quarter. Amundi now owns 1,638,927 shares of the information technology services provider’s stock valued at $1,269,777,000 after acquiring an additional 626,623 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 1,719 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $866.45, for a total transaction of $1,489,427.55. Following the sale, the insider owned 3,000 shares in the company, valued at $2,599,350. The trade was a 36.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 1,698 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the sale, the general counsel owned 4,332 shares in the company, valued at $3,830,614.32. This represents a 28.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,737 shares of company stock worth $16,798,825 over the last three months. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NOW shares. Wells Fargo & Company lifted their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Needham & Company LLC lifted their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Morgan Stanley raised ServiceNow from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $1,040.00 to $1,250.00 in a report on Wednesday, September 24th. DA Davidson boosted their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, Wall Street Zen raised ServiceNow from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,124.17.

ServiceNow Trading Up 0.4%

Shares of NOW stock opened at $939.60 on Friday. The firm has a market capitalization of $195.44 billion, a P/E ratio of 118.34, a P/E/G ratio of 4.21 and a beta of 0.92. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $916.59 and its 200 day simple moving average is $939.53.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%.ServiceNow’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.13 EPS. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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.