ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

by · The Markets Daily

Meiji Yasuda Asset Management Co Ltd. increased its position in shares of ServiceNow, Inc. (NYSE:NOW – Free Report) by 22.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,559 shares of the information technology services provider’s stock after buying an additional 2,991 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in ServiceNow were worth $13,026,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Argent Trust Co grew its holdings in ServiceNow by 5.4% in the second quarter. Argent Trust Co now owns 3,315 shares of the information technology services provider’s stock valued at $2,608,000 after purchasing an additional 170 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of ServiceNow by 33.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 10,371 shares of the information technology services provider’s stock worth $8,159,000 after purchasing an additional 2,595 shares during the last quarter. Meiji Yasuda Life Insurance Co increased its stake in ServiceNow by 2.6% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 5,284 shares of the information technology services provider’s stock worth $4,157,000 after buying an additional 134 shares in the last quarter. Andar Capital Management HK Ltd raised its holdings in shares of ServiceNow by 35.0% during the second quarter. Andar Capital Management HK Ltd now owns 5,400 shares of the information technology services provider’s stock valued at $4,248,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Wealth Alliance boosted its stake in shares of ServiceNow by 6.9% in the second quarter. Wealth Alliance now owns 949 shares of the information technology services provider’s stock worth $747,000 after acquiring an additional 61 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 0.6 %

Shares of NYSE:NOW opened at $886.77 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. ServiceNow, Inc. has a fifty-two week low of $527.24 and a fifty-two week high of $899.61. The stock has a market cap of $181.79 billion, a price-to-earnings ratio of 94.84, a price-to-earnings-growth ratio of 5.25 and a beta of 0.98. The firm’s 50 day moving average price is $812.61 and its 200 day moving average price is $768.20.

ServiceNow (NYSE:NOW – Get Free Report) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. ServiceNow’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities research analysts predict that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. BMO Capital Markets upped their price target on ServiceNow from $830.00 to $860.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $835.00 price objective on shares of ServiceNow in a research report on Tuesday, July 23rd. Royal Bank of Canada upped their target price on ServiceNow from $850.00 to $880.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $900.00 price target on shares of ServiceNow in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $855.44.

Read Our Latest Stock Analysis on ServiceNow

Insider Transactions at ServiceNow

In other news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Tzitzon sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,914 shares of company stock worth $5,608,936. Corporate insiders own 0.25% of the company’s stock.

ServiceNow Company Profile

(Free Report)

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.

See Also

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