AEGON ASSET MANAGEMENT UK Plc Acquires New Stake in ServiceNow, Inc. (NYSE:NOW)

AEGON ASSET MANAGEMENT UK Plc bought a new position in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 95,159 shares of the information technology services provider’s stock, valued at approximately $67,281,000. ServiceNow accounts for about 1.1% of AEGON ASSET MANAGEMENT UK Plc’s investment portfolio, making the stock its 21st largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in ServiceNow by 0.7% during the third quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider’s stock valued at $9,923,653,000 after acquiring an additional 122,577 shares during the last quarter. State Street Corp grew its stake in ServiceNow by 2.0% during the 2nd quarter. State Street Corp now owns 8,240,319 shares of the information technology services provider’s stock worth $4,630,812,000 after buying an additional 158,165 shares during the last quarter. Morgan Stanley increased its position in ServiceNow by 4.3% during the 4th quarter. Morgan Stanley now owns 7,071,786 shares of the information technology services provider’s stock valued at $2,745,763,000 after buying an additional 288,522 shares in the last quarter. Capital International Investors raised its stake in ServiceNow by 3.2% in the second quarter. Capital International Investors now owns 4,060,299 shares of the information technology services provider’s stock valued at $2,281,477,000 after buying an additional 126,326 shares during the last quarter. Finally, FMR LLC grew its stake in shares of ServiceNow by 17.3% during the third quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider’s stock worth $2,256,407,000 after acquiring an additional 595,697 shares during the last quarter. 87.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NOW shares. Robert W. Baird upped their target price on ServiceNow from $780.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. JMP Securities upped their price objective on ServiceNow from $665.00 to $825.00 and gave the company a “market outperform” rating in a report on Monday, January 22nd. Mizuho lifted their price target on shares of ServiceNow from $750.00 to $820.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Barclays raised their target price on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Finally, Argus upped their price objective on ServiceNow from $675.00 to $770.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and an average target price of $750.93.

Insiders Place Their Bets

In other news, insider Paul John Smith sold 5,159 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the completion of the sale, the insider now owns 5,453 shares of the company’s stock, valued at $4,064,229.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Paul John Smith sold 5,159 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William R. Mcdermott sold 5,030 shares of ServiceNow stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,164 shares of company stock worth $9,940,303. Company insiders own 0.28% of the company’s stock.

ServiceNow Price Performance

NOW stock traded up $1.14 on Tuesday, hitting $756.94. 1,212,923 shares of the company’s stock traded hands, compared to its average volume of 1,266,474. The stock has a market cap of $155.17 billion, a price-to-earnings ratio of 90.00, a P/E/G ratio of 4.74 and a beta of 0.97. ServiceNow, Inc. has a 1-year low of $425.85 and a 1-year high of $815.32. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average of $764.16 and a 200-day moving average of $673.40.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same period last year, the company posted $0.88 EPS. On average, analysts forecast that ServiceNow, Inc. will post 6.11 EPS for the current fiscal year.

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.