AIA Group Ltd Sells 793 Shares of ServiceNow, Inc. (NYSE:NOW)

AIA Group Ltd decreased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 17.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,836 shares of the information technology services provider’s stock after selling 793 shares during the quarter. AIA Group Ltd’s holdings in ServiceNow were worth $2,710,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of ServiceNow in the fourth quarter worth about $872,202,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of ServiceNow by 69,897.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 856,069 shares of the information technology services provider’s stock worth $332,386,000 after acquiring an additional 854,846 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of ServiceNow by 69,354.6% in the fourth quarter. International Assets Investment Management LLC now owns 821,648 shares of the information technology services provider’s stock worth $580,486,000 after acquiring an additional 820,465 shares during the last quarter. FMR LLC increased its stake in shares of ServiceNow by 17.3% in the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock valued at $2,256,407,000 after buying an additional 595,697 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of ServiceNow by 129.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 994,367 shares of the information technology services provider’s stock valued at $386,082,000 after buying an additional 560,908 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Down 0.7 %

Shares of NOW traded down $5.09 during trading hours on Thursday, reaching $731.36. The stock had a trading volume of 787,517 shares, compared to its average volume of 1,168,301. ServiceNow, Inc. has a 12 month low of $427.68 and a 12 month high of $815.32. The firm has a 50-day simple moving average of $767.53 and a 200 day simple moving average of $700.42. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $150.21 billion, a price-to-earnings ratio of 87.68, a P/E/G ratio of 4.71 and a beta of 0.97.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the business earned $0.88 EPS. ServiceNow’s quarterly revenue was up 25.6% compared to the same quarter last year. Equities research analysts predict that ServiceNow, Inc. will post 6.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NOW shares. Barclays upped their price objective on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a research note on Tuesday, January 23rd. KeyCorp started coverage on ServiceNow in a research note on Thursday, March 21st. They issued an “overweight” rating and a $1,000.00 price objective for the company. Robert W. Baird upped their price objective on ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Citigroup upped their price objective on ServiceNow from $896.00 to $906.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada increased their target price on shares of ServiceNow from $840.00 to $850.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and an average price target of $780.37.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the transaction, the insider now directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Paul John Smith sold 5,159 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares of the company’s stock, valued at approximately $4,064,229.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total value of $3,787,992.40. Following the completion of the sale, the chief executive officer now directly owns 17,177 shares of the company’s stock, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock worth $9,940,303 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.