ServiceNow, Inc. (NYSE:NOW) Shares Purchased by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc raised its position in ServiceNow, Inc. (NYSE:NOW) by 13.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 88,991 shares of the information technology services provider’s stock after purchasing an additional 10,852 shares during the period. ServiceNow comprises approximately 1.2% of AEGON ASSET MANAGEMENT UK Plc’s portfolio, making the stock its 15th biggest holding. AEGON ASSET MANAGEMENT UK Plc’s holdings in ServiceNow were worth $94,293,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in NOW. Polymer Capital Management HK LTD increased its position in ServiceNow by 57.0% during the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after purchasing an additional 981 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of 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 purchasing an additional 138 shares during the last quarter. Venturi Wealth Management LLC grew its position 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 purchasing an additional 765 shares during the period. Cardano Risk Management B.V. acquired a new position in ServiceNow in the fourth quarter valued at $105,090,000. Finally, Czech National Bank lifted its position in ServiceNow by 6.7% during the fourth quarter. Czech National Bank now owns 44,793 shares of the information technology services provider’s stock worth $47,486,000 after buying an additional 2,829 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NOW. UBS Group increased their price objective on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley lowered shares of ServiceNow from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $900.00 to $960.00 in a report on Monday, October 21st. Wells Fargo & Company boosted their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Raymond James began coverage on ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price on the stock. Finally, TD Cowen upped their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,093.34.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,124.64 on Friday. The stock has a market capitalization of $231.68 billion, a price-to-earnings ratio of 174.91, a PEG ratio of 5.11 and a beta of 0.99. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The company’s 50-day simple moving average is $1,077.07 and its 200-day simple moving average is $942.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter last year, the business posted $1.21 EPS. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities analysts anticipate that ServiceNow, Inc. will post 7.06 earnings per share for the current fiscal year.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 12,271 shares of the business’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 completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This represents a 82.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $11,710,600. This represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,731 shares of company stock valued at $21,016,751. Corporate insiders own 0.25% 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.