UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 112,380 Shares of ServiceNow, Inc. (NYSE:NOW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,566,949 shares of the information technology services provider’s stock after acquiring an additional 112,380 shares during the quarter. ServiceNow comprises 0.6% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings, making the stock its 23rd largest holding. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.25% of ServiceNow worth $2,295,854,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in ServiceNow by 89,137.0% during the third quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after buying an additional 1,183,739 shares in the last quarter. Bank of Montreal Can boosted its holdings in ServiceNow by 216.6% during the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after acquiring an additional 935,848 shares during the last quarter. FMR LLC grew its stake in shares of ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after acquiring an additional 502,845 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of ServiceNow by 917.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 310,754 shares of the information technology services provider’s stock valued at $277,935,000 after purchasing an additional 280,210 shares during the last quarter. Finally, AustralianSuper Pty Ltd bought a new position in shares of ServiceNow during the second quarter valued at about $218,786,000. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Stock Down 2.7 %

Shares of NYSE:NOW opened at $1,041.42 on Thursday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,072.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s 50-day moving average is $958.40 and its 200 day moving average is $842.41. The company has a market cap of $214.53 billion, a PE ratio of 161.96, a P/E/G ratio of 6.04 and a beta of 0.98.

ServiceNow (NYSE:NOW) last announced its earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. The company had revenue of $2.80 billion during 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 firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 earnings per share. Sell-side analysts anticipate that ServiceNow, Inc. will post 7.07 EPS for the current year.

Analyst Upgrades and Downgrades

NOW has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on ServiceNow from $860.00 to $1,025.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Royal Bank of Canada upped their price objective on ServiceNow from $985.00 to $1,045.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Evercore ISI lifted their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Stifel Nicolaus increased their price target on shares of ServiceNow from $900.00 to $990.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC lifted their price objective on shares of ServiceNow from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $989.07.

Insider Transactions at ServiceNow

In related news, Director Anita M. Sands sold 2,229 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 353 shares of ServiceNow stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total value of $326,510.88. Following the sale, the insider now directly owns 3,027 shares in the company, valued at approximately $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,329 shares of company stock valued at $20,547,241. Company insiders own 0.25% of the company’s stock.

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.