Sumitomo Mitsui DS Asset Management Company Ltd Buys 1,364 Shares of ServiceNow, Inc. (NYSE:NOW)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,054 shares of the information technology services provider’s stock after purchasing an additional 1,364 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in ServiceNow were worth $40,296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NOW. Swedbank AB bought a new stake in ServiceNow during the 1st quarter worth approximately $897,908,000. Global Assets Advisory LLC bought a new stake in ServiceNow during the first quarter valued at $403,034,000. Vanguard Group Inc. raised its position in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock worth $14,066,715,000 after acquiring an additional 331,797 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of ServiceNow in the 2nd quarter valued at about $218,786,000. Finally, Acadian Asset Management LLC lifted its stake in shares of ServiceNow by 233.4% in the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after purchasing an additional 271,073 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 0.2 %

Shares of ServiceNow stock opened at $917.12 on Friday. The company’s 50 day moving average price is $872.40 and its 200-day moving average price is $790.68. ServiceNow, Inc. has a 52-week low of $527.24 and a 52-week high of $949.59. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $188.01 billion, a price-to-earnings ratio of 98.09, a P/E/G ratio of 5.63 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 earnings per share. Equities research analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 1,800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,490 shares in the company, valued at $9,479,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated 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 owns 3,027 shares in the company, valued at approximately $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gina Mastantuono sold 1,800 shares of ServiceNow stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $825.00, for a total value of $1,485,000.00. Following the completion of the transaction, the chief financial officer now directly owns 11,490 shares of the company’s stock, valued at approximately $9,479,250. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,267 shares of company stock valued at $5,935,447 over the last quarter. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NOW. JMP Securities raised their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock a “market outperform” rating in a research report on Thursday. Royal Bank of Canada lifted their price target on shares of ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on ServiceNow from $780.00 to $820.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Citigroup upped their price target on ServiceNow from $915.00 to $1,068.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Oppenheimer increased their price target on ServiceNow from $825.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $914.15.

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.