Mitsubishi UFJ Asset Management UK Ltd. Purchases 2,100 Shares of ServiceNow, Inc. (NYSE:NOW)

Mitsubishi UFJ Asset Management UK Ltd. boosted its position in ServiceNow, Inc. (NYSE:NOW) by 110.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,000 shares of the information technology services provider’s stock after acquiring an additional 2,100 shares during the period. ServiceNow accounts for about 1.9% of Mitsubishi UFJ Asset Management UK Ltd.’s holdings, making the stock its 13th biggest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in ServiceNow were worth $4,240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Polymer Capital Management HK LTD increased its position in shares of ServiceNow by 57.0% during the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after acquiring an additional 981 shares during the last quarter. AXA S.A. boosted its holdings in shares of ServiceNow by 1.1% in the second quarter. AXA S.A. now owns 387,344 shares of the information technology services provider’s stock worth $304,712,000 after acquiring an additional 4,271 shares during the period. Avidian Wealth Enterprises LLC boosted its stake in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after buying an additional 138 shares during the period. Venturi Wealth Management LLC raised its position in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock valued at $2,565,000 after purchasing an additional 765 shares in the last quarter. Finally, Cardano Risk Management B.V. purchased a new stake in ServiceNow during the fourth quarter valued at about $105,090,000. Institutional investors own 87.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Needham & Company LLC boosted their price target on ServiceNow from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Barclays boosted their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Piper Sandler upped their price objective on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, TD Cowen increased their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,090.72.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 76 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at $3,060,115.38. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock valued at $21,016,751 in the last ninety days. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

NOW opened at $1,097.53 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $226.09 billion, a PE ratio of 170.69, a PEG ratio of 4.85 and a beta of 0.99. The firm’s 50-day moving average price is $1,070.37 and its 200 day moving average price is $935.27. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,157.90.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the previous year, the firm earned $1.21 EPS. The business’s revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts expect that ServiceNow, Inc. will post 7.06 EPS for the current fiscal 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.