Mirae Asset Global Investments Co. Ltd. Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,732 shares of the information technology services provider's stock after buying an additional 6,075 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in ServiceNow were worth $34,876,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NOW. Quarry LP purchased a new stake in ServiceNow during the 4th quarter worth approximately $27,000. Atala Financial Inc purchased a new stake in ServiceNow during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow during the 4th quarter worth approximately $32,000. Noble Wealth Management PBC purchased a new stake in shares of ServiceNow in the 4th quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow in the 4th quarter valued at approximately $37,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NOW shares. JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a research report on Tuesday, May 6th. Raymond James Financial dropped their price objective on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group dropped their price objective on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. DA Davidson started coverage on shares of ServiceNow in a research report on Wednesday. They issued a "buy" rating and a $1,150.00 price objective on the stock. Finally, BMO Capital Markets increased their price objective on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,065.32.

ServiceNow Stock Up 1.2%

Shares of NYSE:NOW opened at $1,023.56 on Friday. The stock has a market cap of $211.86 billion, a P/E ratio of 139.07, a P/E/G ratio of 4.70 and a beta of 0.95. The firm has a fifty day moving average price of $985.61 and a 200 day moving average price of $965.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.12 and a quick ratio of 1.12. ServiceNow, Inc. has a 1-year low of $678.66 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. ServiceNow's quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.41 EPS. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,096,621. This represents a 2.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 2,050 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $1,012.01, for a total transaction of $2,074,620.50. Following the transaction, the chief executive officer now owns 6,614 shares of the company's stock, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,716 shares of company stock worth $6,611,245. 0.38% of the stock is owned by insiders.

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.

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