718 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. acquired a new stake in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 718 shares of the information technology services provider’s stock, valued at approximately $761,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in shares of ServiceNow by 8.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,134 shares of the information technology services provider’s stock worth $3,347,000 after buying an additional 253 shares in the last quarter. Mitchell Capital Management Co. grew its stake in ServiceNow by 0.7% during the 4th quarter. Mitchell Capital Management Co. now owns 12,324 shares of the information technology services provider’s stock valued at $13,065,000 after acquiring an additional 88 shares in the last quarter. Duncker Streett & Co. Inc. raised its holdings in ServiceNow by 4.8% in the 4th quarter. Duncker Streett & Co. Inc. now owns 6,376 shares of the information technology services provider’s stock valued at $6,759,000 after acquiring an additional 290 shares during the last quarter. Onefund LLC boosted its holdings in shares of ServiceNow by 2.0% during the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock worth $585,000 after purchasing an additional 11 shares during the last quarter. Finally, Nixon Peabody Trust Co. purchased a new stake in shares of ServiceNow in the fourth quarter valued at approximately $6,820,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the sale, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock worth $20,050,076 in the last quarter. 0.25% of the stock is owned by company insiders.

ServiceNow Price Performance

Shares of NOW opened at $929.56 on Friday. The company has a market cap of $191.49 billion, a P/E ratio of 136.10, a PEG ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average price is $1,038.07 and its 200 day moving average price is $982.80.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, research analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has approved a stock repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

NOW has been the topic of a number of analyst reports. KeyCorp downgraded ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. The Goldman Sachs Group lifted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Wells Fargo & Company upped their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. StockNews.com downgraded shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC increased their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

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.