Mitsubishi UFJ Asset Management UK Ltd. Has $4.24 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Mitsubishi UFJ Asset Management UK Ltd. raised its position in ServiceNow, Inc. (NYSE:NOW) by 110.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,000 shares of the information technology services provider’s stock after purchasing an additional 2,100 shares during the quarter. ServiceNow accounts for approximately 1.9% of Mitsubishi UFJ Asset Management UK Ltd.’s holdings, making the stock its 13th largest holding. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in ServiceNow were worth $4,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOW. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the third quarter valued at about $30,000. DT Investment Partners LLC increased its position in shares of ServiceNow by 77.3% in the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 17 shares during the last quarter. Oakworth Capital Inc. grew its holdings in ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider’s stock worth $39,000 after purchasing an additional 14 shares during the period. Semmax Financial Advisors Inc. bought a new position in ServiceNow during the second quarter worth about $39,000. Finally, Dunhill Financial LLC grew its holdings in ServiceNow by 70.0% during the third quarter. Dunhill Financial LLC now owns 51 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 21 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 76 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the sale, the insider now owns 3,027 shares in the company, valued at $3,060,115.38. This represents a 2.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total value of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,731 shares of company stock valued at $21,016,751. 0.25% of the stock is currently owned by company insiders.

ServiceNow Trading Up 2.4 %

NYSE NOW opened at $1,097.53 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90. The company has a market cap of $226.09 billion, a price-to-earnings ratio of 170.69, a price-to-earnings-growth ratio of 4.85 and a beta of 0.99. The business’s fifty day moving average is $1,070.37 and its 200 day moving average is $935.27.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 EPS. As a group, sell-side analysts expect that ServiceNow, Inc. will post 7.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research analyst reports. Sanford C. Bernstein lifted their price target on ServiceNow from $906.00 to $913.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Piper Sandler lifted their price target on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Scotiabank initiated coverage on ServiceNow in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. UBS Group lifted their price target on ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley cut ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $900.00 to $960.00 in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,090.72.

ServiceNow Company 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.