ServiceNow, Inc. (NYSE:NOW) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its stake in ServiceNow, Inc. by 5.7%, owning 6,366 shares valued at approximately $5.07 million after acquiring an additional 346 shares.
• Several institutional investors have recently enhanced their positions in ServiceNow, with institutional ownership reaching 87.18% of the company's stock.
• ServiceNow's latest earnings report showed $4.09 EPS, exceeding analyst expectations of $3.57, and reported a revenue increase of 22.4% year-over-year.

Tokio Marine Asset Management Co. Ltd. raised its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,366 shares of the information technology services provider's stock after purchasing an additional 346 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in ServiceNow were worth $5,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NOW. Quarry LP acquired a new stake in shares of ServiceNow during the 4th quarter worth about $27,000. Bogart Wealth LLC increased its position in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider's stock worth $25,000 after buying an additional 17 shares during the period. Graybill Wealth Management LTD. purchased a new position in shares of ServiceNow in the 1st quarter valued at approximately $26,000. Heck Capital Advisors LLC purchased a new position in shares of ServiceNow in the 4th quarter valued at approximately $37,000. Finally, WASHINGTON TRUST Co grew its stake in shares of ServiceNow by 620.0% in the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 31 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 67 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $860.57, for a total value of $57,658.19. Following the sale, the insider directly owned 3,027 shares in the company, valued at $2,604,945.39. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anita M. Sands sold 239 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $1,050.00, for a total value of $250,950.00. Following the completion of the sale, the director owned 10,404 shares in the company, valued at approximately $10,924,200. This represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,738 shares of company stock worth $5,713,973. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on NOW shares. JMP Securities restated a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Monday, August 4th. Stifel Nicolaus boosted their target price on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Wells Fargo & Company upped their price objective on ServiceNow from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. BMO Capital Markets upped their price objective on ServiceNow from $1,150.00 to $1,160.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $1,200.00 target price on shares of ServiceNow in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,115.20.

ServiceNow Stock Performance

NYSE:NOW traded down $12.81 during trading hours on Thursday, reaching $850.49. 1,784,168 shares of the stock were exchanged, compared to its average volume of 1,834,557. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $973.65 and a 200-day simple moving average of $939.15. ServiceNow, Inc. has a 52 week low of $678.66 and a 52 week high of $1,198.09. The stock has a market capitalization of $176.90 billion, a P/E ratio of 107.12, a P/E/G ratio of 3.89 and a beta of 0.93.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, topping analysts' consensus estimates of $3.57 by $0.52. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.12 billion. ServiceNow had a return on equity of 18.04% and a net margin of 13.78%. ServiceNow's quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.13 EPS. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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.