Mufg Securities Americas Inc. Acquires Shares of 3,041 ServiceNow, Inc. (NYSE:NOW)

Mufg Securities Americas Inc. bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,041 shares of the information technology services provider's stock, valued at approximately $3,224,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of ServiceNow during the fourth quarter worth about $27,000. Atala Financial Inc purchased a new stake in ServiceNow in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $32,000. Noble Wealth Management PBC bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $34,000. Finally, FPC Investment Advisory Inc. raised its holdings in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on NOW shares. Royal Bank of Canada lifted their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Barclays set a $1,085.00 target price on shares of ServiceNow in a research note on Wednesday, May 7th. Truist Financial raised shares of ServiceNow from a "hold" rating to a "buy" rating and increased their price target for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st. Citigroup lifted their price objective on ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Raymond James decreased their target price on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,055.83.

Insider Buying and Selling at ServiceNow

In other news, CEO William R. Mcdermott sold 384 shares of ServiceNow stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $986.64, for a total transaction of $378,869.76. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 1,023 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $988.00, for a total transaction of $1,010,724.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at $4,280,016. This represents a 19.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,844 shares of company stock valued at $14,204,938. Insiders own 0.38% of the company's stock.

ServiceNow Stock Up 2.1%

ServiceNow stock opened at $1,037.43 on Wednesday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The stock has a fifty day moving average of $850.27 and a 200 day moving average of $971.49. 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 market cap of $214.75 billion, a PE ratio of 151.89, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued 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. The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business's quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.41 EPS. As a group, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors 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.

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