ServiceNow, Inc. (NYSE:NOW) Position Increased by AIA Group Ltd

AIA Group Ltd increased its stake in ServiceNow, Inc. (NYSE:NOW) by 67.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,429 shares of the information technology services provider’s stock after purchasing an additional 2,593 shares during the period. AIA Group Ltd’s holdings in ServiceNow were worth $4,901,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sandbox Financial Partners LLC lifted its holdings in shares of ServiceNow by 8.6% in the 4th quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock worth $590,000 after purchasing an additional 66 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of ServiceNow by 19.8% in the 4th quarter. Federated Hermes Inc. now owns 300,122 shares of the information technology services provider’s stock worth $212,033,000 after purchasing an additional 49,631 shares during the last quarter. Raymond James & Associates raised its stake in ServiceNow by 5.9% during the 4th quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after acquiring an additional 18,442 shares in the last quarter. Smithfield Trust Co raised its stake in ServiceNow by 36.4% during the 4th quarter. Smithfield Trust Co now owns 981 shares of the information technology services provider’s stock valued at $691,000 after acquiring an additional 262 shares in the last quarter. Finally, Dohj LLC bought a new stake in ServiceNow during the 4th quarter valued at $913,000. Institutional investors own 87.18% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of several recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 target price on shares of ServiceNow in a research note on Tuesday, July 2nd. Morgan Stanley lifted their target price on ServiceNow from $814.00 to $830.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Citigroup lifted their target price on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. KeyCorp cut their target price on ServiceNow from $950.00 to $920.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Finally, Jefferies Financial Group lifted their price target on ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $812.60.

Insider Activity

In other news, insider Paul John Smith sold 190 shares of ServiceNow stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the transaction, the insider now owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Paul John Smith sold 190 shares of ServiceNow stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the sale, the insider now owns 3,010 shares of the company’s stock, valued at $2,163,527.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nicholas Tzitzon sold 2,000 shares of ServiceNow stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $690.99, for a total value of $1,381,980.00. Following the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $2,521,422.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,530 shares of company stock worth $3,997,012. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Up 1.2 %

Shares of NOW stock traded up $9.35 on Friday, reaching $758.49. 898,086 shares of the company’s stock traded hands, compared to its average volume of 1,288,436. ServiceNow, Inc. has a 12-month low of $527.24 and a 12-month high of $815.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $155.49 billion, a P/E ratio of 81.12, a price-to-earnings-growth ratio of 4.66 and a beta of 0.99. The business’s 50 day moving average price is $737.75 and its two-hundred day moving average price is $745.82.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.41. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. On average, equities analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current year.

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.