ServiceNow, Inc. (NYSE:NOW) Stake Boosted by AIA Group Ltd

AIA Group Ltd grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 142.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,595 shares of the information technology services provider’s stock after acquiring an additional 27,387 shares during the period. ServiceNow accounts for 1.1% of AIA Group Ltd’s investment portfolio, making the stock its 25th biggest holding. AIA Group Ltd’s holdings in ServiceNow were worth $41,674,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Presidio Capital Management LLC purchased a new position in shares of ServiceNow during the 3rd quarter valued at $420,000. TFB Advisors LLC grew its holdings in shares of ServiceNow by 3.3% during the 3rd quarter. TFB Advisors LLC now owns 866 shares of the information technology services provider’s stock valued at $775,000 after acquiring an additional 28 shares in the last quarter. Valley Brook Capital Group Inc. grew its holdings in shares of ServiceNow by 11.2% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 447 shares of the information technology services provider’s stock valued at $400,000 after acquiring an additional 45 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in ServiceNow by 6.9% in the third quarter. Kornitzer Capital Management Inc. KS now owns 4,651 shares of the information technology services provider’s stock worth $4,160,000 after purchasing an additional 299 shares in the last quarter. Finally, Jackson Square Capital LLC boosted its holdings in ServiceNow by 9.0% in the third quarter. Jackson Square Capital LLC now owns 412 shares of the information technology services provider’s stock worth $368,000 after purchasing an additional 34 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Jacqueline P. Canney sold 353 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $2,799,853.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 804 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,343 shares of company stock valued at $2,791,181 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NYSE:NOW opened at $1,015.45 on Friday. ServiceNow, Inc. has a 12-month low of $615.54 and a 12-month high of $1,024.44. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $209.18 billion, a PE ratio of 157.92, a price-to-earnings-growth ratio of 5.48 and a beta of 0.98. The firm has a 50-day moving average price of $905.83 and a 200 day moving average price of $809.18.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the business posted $1.21 earnings per share. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. Research analysts anticipate that ServiceNow, Inc. will post 7.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NOW shares. Barclays upped their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Needham & Company LLC upped their price objective on shares of ServiceNow from $900.00 to $1,075.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Mizuho upped their price objective on shares of ServiceNow from $850.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, JMP Securities upped their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $970.33.

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.