AIA Group Ltd Acquires 27,387 Shares of ServiceNow, Inc. (NYSE:NOW)

AIA Group Ltd grew its position in ServiceNow, Inc. (NYSE:NOW) by 142.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,595 shares of the information technology services provider’s stock after purchasing an additional 27,387 shares during the period. ServiceNow comprises about 1.1% of AIA Group Ltd’s portfolio, making the stock its 25th largest position. AIA Group Ltd’s holdings in ServiceNow were worth $41,674,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. M&G Plc acquired a new stake in ServiceNow in the first quarter worth $11,030,000. AXA S.A. raised its holdings in 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 purchasing an additional 4,271 shares during the period. HWG Holdings LP acquired a new stake in ServiceNow in the second quarter worth $2,679,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in ServiceNow by 375.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,365 shares of the information technology services provider’s stock worth $1,041,000 after purchasing an additional 1,078 shares during the period. Finally, Wealthspire Advisors LLC raised its holdings in ServiceNow by 3.4% in the first quarter. Wealthspire Advisors LLC now owns 1,683 shares of the information technology services provider’s stock worth $1,283,000 after purchasing an additional 56 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 804 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $812.00, for a total transaction of $652,848.00. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,457,924. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the transaction, the insider now owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 804 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $812.00, for a total transaction of $652,848.00. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $2,457,924. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,343 shares of company stock worth $2,791,181. Insiders own 0.25% of the company’s stock.

ServiceNow Stock Up 2.1 %

Shares of NOW opened at $1,015.45 on Friday. ServiceNow, Inc. has a 52 week low of $615.54 and a 52 week high of $1,024.44. The firm has a market cap of $209.18 billion, a P/E ratio of 157.92, a price-to-earnings-growth ratio of 5.48 and a beta of 0.98. The firm’s 50-day simple moving average is $905.83 and its 200 day simple moving average is $809.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 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 analyst estimates of $2.75 billion. During the same quarter in the prior year, the business earned $1.21 EPS. ServiceNow’s quarterly revenue was up 22.2% on a year-over-year basis. On average, analysts forecast that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. Royal Bank of Canada increased their target price on shares of ServiceNow from $985.00 to $1,045.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Barclays raised their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. 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 report on Thursday, October 17th. Piper Sandler raised their price objective on shares of ServiceNow from $850.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, BMO Capital Markets raised their price objective on shares of ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $970.33.

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.