Sumitomo Mitsui DS Asset Management Company Ltd Purchases 1,415 Shares of ServiceNow, Inc. (NYSE:NOW)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,601 shares of the information technology services provider's stock after acquiring an additional 1,415 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in ServiceNow were worth $35,509,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new position in shares of ServiceNow during the fourth quarter worth approximately $32,000. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of ServiceNow in the fourth quarter valued at about $37,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Performance

NOW traded down $1.55 during trading hours on Wednesday, hitting $1,010.35. The stock had a trading volume of 367,882 shares, compared to its average volume of 1,479,423. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09. The company's fifty day simple moving average is $995.96 and its 200 day simple moving average is $964.39. The stock has a market cap of $209.12 billion, a PE ratio of 137.07, a price-to-earnings-growth ratio of 4.72 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15.

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

Insiders Place Their Bets

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of the 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 sale, the chief executive officer owned 6,614 shares in the company, valued at $6,693,434.14. This represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the completion of the transaction, the director directly owned 10,891 shares of the company's stock, valued at $11,039,226.51. The trade was a 3.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,716 shares of company stock worth $6,611,245 in the last three months. Insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of analyst reports. William Blair reiterated an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. Canaccord Genuity Group reduced their target price on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Scotiabank set a $1,100.00 price target on ServiceNow and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of ServiceNow from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $1,048.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.23.

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.