MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 31,125 Shares of ServiceNow, Inc. (NYSE:NOW)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 18.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 196,783 shares of the information technology services provider's stock after purchasing an additional 31,125 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.10% of ServiceNow worth $209,103,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its stake in ServiceNow by 25.0% in the fourth quarter. Lazard Asset Management LLC now owns 36,749 shares of the information technology services provider's stock worth $38,957,000 after purchasing an additional 7,349 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its position in ServiceNow by 1.6% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 5,539 shares of the information technology services provider's stock worth $5,872,000 after buying an additional 85 shares in the last quarter. Interval Partners LP acquired a new position in ServiceNow during the 4th quarter worth about $2,296,000. Investment Management Corp of Ontario grew its holdings in ServiceNow by 25.1% during the 4th quarter. Investment Management Corp of Ontario now owns 11,189 shares of the information technology services provider's stock worth $11,862,000 after acquiring an additional 2,242 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after acquiring an additional 12,533 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOW has been the topic of a number of recent research reports. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $1,003.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. Erste Group Bank upgraded ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Barclays set a $1,085.00 price target on ServiceNow in a report on Wednesday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Royal Bank of Canada increased their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,055.83.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 384 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $986.64, for a total transaction of $378,869.76. Following the sale, the chief executive officer now owns 6,614 shares of the company's stock, valued at $6,525,636.96. The trade was a 5.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Russell S. Elmer sold 191 shares of ServiceNow stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $985.00, for a total value of $188,135.00. Following the transaction, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,267,020. The trade was a 4.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,259 shares of company stock worth $14,624,279. 0.38% of the stock is owned by company insiders.

ServiceNow Trading Up 0.7%

Shares of ServiceNow stock opened at $981.13 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a 50 day moving average price of $844.85 and a two-hundred day moving average price of $970.58. The stock has a market capitalization of $203.09 billion, a PE ratio of 143.65, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data 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 return on equity of 17.11% and a net margin of 12.97%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the previous year, the firm earned $3.41 earnings per share. The business's revenue was up 18.6% on a year-over-year basis. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has approved a stock repurchase program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.