AIA Group Ltd Has $4.90 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

AIA Group Ltd boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 67.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,429 shares of the information technology services provider’s stock after buying an additional 2,593 shares during the quarter. AIA Group Ltd’s holdings in ServiceNow were worth $4,901,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NOW. University of Texas Texas AM Investment Managment Co. acquired a new position in ServiceNow during the 4th quarter worth $29,000. AdvisorNet Financial Inc lifted its stake in shares of ServiceNow by 266.7% in the 4th quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 32 shares during the period. Disciplined Equity Management Inc. bought a new stake in shares of ServiceNow in the 4th quarter valued at $35,000. Sachetta LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at $35,000. Finally, PFG Private Wealth Management LLC bought a new stake in shares of ServiceNow in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In other ServiceNow news, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $718.78, for a total transaction of $136,568.20. Following the completion of the sale, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Frederic B. Luddy sold 598 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $741.92, for a total transaction of $443,668.16. Following the transaction, the director now directly owns 428 shares of the company’s stock, valued at $317,541.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul John Smith sold 190 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $718.78, for a total transaction of $136,568.20. Following the transaction, the insider now directly owns 3,010 shares in the company, valued at $2,163,527.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,530 shares of company stock worth $3,997,012. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NOW. BMO Capital Markets lowered their price objective on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. JMP Securities restated a “market outperform” rating and issued a $825.00 price objective on shares of ServiceNow in a research report on Tuesday, May 7th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Stifel Nicolaus reiterated a “buy” rating and set a $820.00 target price on shares of ServiceNow in a report on Tuesday, July 2nd. Finally, Morgan Stanley increased their target price on ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average price target of $812.60.

ServiceNow Stock Performance

NYSE:NOW traded up $9.35 during mid-day trading on Friday, hitting $758.49. The stock had a trading volume of 898,086 shares, compared to its average volume of 1,288,436. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $815.32. The stock has a market cap of $155.49 billion, a price-to-earnings ratio of 81.12, a PEG ratio of 4.66 and a beta of 0.99. The company’s 50 day simple moving average is $737.75 and its 200 day simple moving average is $745.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. On average, equities research analysts forecast that ServiceNow, Inc. will post 6.5 earnings per share for the current 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.