ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 85.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 157,789 shares of the information technology services provider’s stock after purchasing an additional 72,926 shares during the period. Royal London Asset Management Ltd.’s holdings in ServiceNow were worth $141,125,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. FMR LLC grew its holdings in shares of ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after purchasing an additional 502,845 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of ServiceNow by 4.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,566,949 shares of the information technology services provider’s stock valued at $2,295,854,000 after purchasing an additional 112,380 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of ServiceNow by 3.5% in the third quarter. Fisher Asset Management LLC now owns 1,662,968 shares of the information technology services provider’s stock valued at $1,487,343,000 after purchasing an additional 56,830 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of ServiceNow by 11.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,298 shares of the information technology services provider’s stock valued at $1,449,178,000 after purchasing an additional 167,847 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of ServiceNow by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after purchasing an additional 34,855 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NOW. UBS Group boosted their price target 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. Piper Sandler boosted their price target on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their price target on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. BMO Capital Markets boosted their price target on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, KeyCorp boosted their price target on shares of ServiceNow from $1,020.00 to $1,040.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus target price of $999.07.

Insiders Place Their Bets

In other news, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,629 shares of company stock worth $20,861,626. 0.25% of the stock is owned by insiders.

ServiceNow Stock Up 6.2 %

NOW stock opened at $1,123.13 on Thursday. The company has a market cap of $231.36 billion, a price-to-earnings ratio of 174.67, a price-to-earnings-growth ratio of 6.07 and a beta of 0.99. 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, Inc. has a 12 month low of $637.99 and a 12 month high of $1,126.63. The company has a fifty day moving average price of $972.88 and a 200 day moving average price of $853.49.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data 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. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

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.