Mizuho Securities Co. Ltd. Trims Stock Position in ServiceNow, Inc. (NYSE:NOW)

Mizuho Securities Co. Ltd. lowered its position in shares of ServiceNow, Inc. (NYSE:NOW) by 59.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 390 shares of the information technology services provider’s stock after selling 570 shares during the period. ServiceNow comprises about 0.9% of Mizuho Securities Co. Ltd.’s holdings, making the stock its 29th largest position. Mizuho Securities Co. Ltd.’s holdings in ServiceNow were worth $349,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NOW. International Assets Investment Management LLC raised its position in ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares during the last quarter. Swedbank AB acquired a new position in ServiceNow in the 1st quarter valued at about $897,908,000. Vanguard Group Inc. grew its stake in shares of ServiceNow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of ServiceNow during the second quarter worth approximately $218,786,000. Finally, Acadian Asset Management LLC grew its position in ServiceNow by 233.4% in the 1st quarter. Acadian Asset Management LLC now owns 387,225 shares of the information technology services provider’s stock valued at $295,198,000 after buying an additional 271,073 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 94 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $825.92, for a total value of $77,636.48. Following the completion of the sale, the insider now directly owns 4,019 shares of the company’s stock, valued at $3,319,372.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other ServiceNow news, insider Jacqueline P. Canney sold 353 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,799,853.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 94 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $825.92, for a total transaction of $77,636.48. Following the transaction, the insider now owns 4,019 shares of the company’s stock, valued at approximately $3,319,372.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,359 shares of company stock worth $5,038,241 in the last three months. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOW. Evercore ISI boosted their price target on shares of ServiceNow from $950.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Truist Financial upped their price target on shares of ServiceNow from $780.00 to $900.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. UBS Group upped their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group boosted their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler increased their price objective on ServiceNow from $850.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $974.04.

ServiceNow Stock Up 0.7 %

NYSE:NOW traded up $7.86 during trading hours on Wednesday, hitting $1,056.15. 345,618 shares of the company’s stock traded hands, compared to its average volume of 1,276,305. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,058.16. The firm has a market cap of $217.57 billion, a P/E ratio of 164.29, a P/E/G ratio of 6.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s fifty day moving average price is $920.45 and its two-hundred day moving average price is $818.12.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.26. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, research analysts expect that ServiceNow, Inc. will post 7.07 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.