Asset Management One Co. Ltd. Buys 245 Shares of ServiceNow, Inc. (NYSE:NOW)

Asset Management One Co. Ltd. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 99,775 shares of the information technology services provider’s stock after acquiring an additional 245 shares during the period. Asset Management One Co. Ltd.’s holdings in ServiceNow were worth $107,861,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Polymer Capital Management HK LTD grew its stake in ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after acquiring an additional 981 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in ServiceNow in the 4th quarter valued at $48,802,000. Dock Street Asset Management Inc. increased its stake in ServiceNow by 3.4% during the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock valued at $35,147,000 after purchasing an additional 1,105 shares in the last quarter. Avidian Wealth Enterprises LLC raised its holdings in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock worth $436,000 after buying an additional 138 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after buying an additional 765 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on NOW shares. Scotiabank began coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 target price for the company. Raymond James started coverage on ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 price objective for the company. Wells Fargo & Company lifted their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Mizuho increased their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group dropped their target price on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow Price Performance

Shares of NOW stock opened at $989.70 on Friday. The business’s fifty day moving average is $1,075.99 and its 200 day moving average is $969.56. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market cap of $203.88 billion, a price-to-earnings ratio of 144.90, a PEG ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at ServiceNow

In related news, General Counsel Russell S. Elmer sold 2,511 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total value of $2,541,357.99. Following the transaction, the general counsel now owns 4,332 shares in the company, valued at $4,384,373.88. The trade was a 36.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,257 shares of company stock valued at $23,579,376. Corporate insiders own 0.25% of the company’s stock.

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.