ServiceNow, Inc. (NYSE:NOW) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 5,859 shares of the information technology services provider’s stock after acquiring an additional 252 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in ServiceNow were worth $5,240,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. M&G Plc acquired a new stake in ServiceNow in the first quarter valued at approximately $11,030,000. Avidian Wealth Enterprises LLC raised its position 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 acquiring an additional 138 shares during the period. Venturi Wealth Management LLC raised its position in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after acquiring an additional 765 shares during the period. AXA S.A. lifted its holdings in ServiceNow by 1.1% during the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock valued at $304,712,000 after purchasing an additional 4,271 shares in the last quarter. Finally, HWG Holdings LP acquired a new stake in shares of ServiceNow in the second quarter valued at about $2,679,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on ServiceNow from $820.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. TD Cowen upped their target price on ServiceNow from $900.00 to $1,000.00 and gave the company a “buy” rating in a report on Monday, October 21st. Evercore ISI upped their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. BMO Capital Markets raised their price objective on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley cut shares of ServiceNow from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $900.00 to $960.00 in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $974.04.

Insider Transactions at ServiceNow

In other ServiceNow news, Director Jeffrey A. Miller sold 2,879 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the transaction, the director now directly owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jacqueline P. Canney sold 94 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the sale, the insider now owns 4,019 shares in the company, valued at approximately $3,319,372.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey A. Miller sold 2,879 shares of ServiceNow stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now owns 42,920 shares of the company’s stock, valued at $43,740,630.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,259 shares of company stock valued at $4,955,741 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Price Performance

Shares of NOW stock traded down $3.49 during midday trading on Thursday, reaching $1,042.06. 140,499 shares of the company traded hands, compared to its average volume of 1,275,399. The firm’s 50 day simple moving average is $924.67 and its two-hundred day simple moving average is $819.71. The firm has a market cap of $214.66 billion, a PE ratio of 162.60, a price-to-earnings-growth ratio of 6.02 and a beta of 0.98. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,061.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the firm posted $1.21 EPS. ServiceNow’s revenue was up 22.2% on a year-over-year basis. On average, equities research analysts expect that ServiceNow, Inc. will post 7.07 EPS for the current fiscal year.

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.