Asset Management One Co. Ltd. Has $107.86 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Asset Management One Co. Ltd. raised its stake in ServiceNow, Inc. (NYSE:NOW) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,775 shares of the information technology services provider’s stock after purchasing an additional 245 shares during the period. Asset Management One Co. Ltd.’s holdings in ServiceNow were worth $107,861,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp grew its stake in ServiceNow by 2.6% in the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after buying an additional 226,023 shares during the last quarter. FMR LLC boosted its holdings in shares of ServiceNow by 9.9% during the third 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 during the period. World Investment Advisors LLC grew its position in shares of ServiceNow by 499,668.1% in the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after purchasing an additional 78,378 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on NOW shares. Canaccord Genuity Group upped their price objective on ServiceNow from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 30th. TD Cowen upped their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Truist Financial lifted their price objective on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. The Goldman Sachs Group increased their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, Needham & Company LLC lifted 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 report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ServiceNow currently has an average rating of “Moderate Buy” and an average target price of $1,129.72.

Insider Buying and Selling at ServiceNow

In related news, General Counsel Russell S. Elmer sold 81 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total value of $82,339.74. Following the sale, the general counsel now directly owns 6,843 shares in the company, valued at $6,956,183.22. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 94 shares of ServiceNow stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total transaction of $95,554.76. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,077,066.58. This represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,257 shares of company stock worth $23,579,376. 0.25% of the stock is currently owned by company insiders.

ServiceNow Trading Up 0.7 %

Shares of NOW stock opened at $989.70 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The stock’s fifty day simple moving average is $1,075.99 and its 200 day simple moving average is $969.56. 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 has a market capitalization of $203.88 billion, a P/E ratio of 144.90, a P/E/G ratio of 4.76 and a beta of 0.99.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has initiated a stock buyback 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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.