Royal London Asset Management Ltd. Buys 72,926 Shares of ServiceNow, Inc. (NYSE:NOW)

Royal London Asset Management Ltd. lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 85.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 157,789 shares of the information technology services provider's stock after purchasing an additional 72,926 shares during the quarter. Royal London Asset Management Ltd. owned about 0.08% of ServiceNow worth $141,125,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Polymer Capital Management HK LTD boosted its stake in shares of ServiceNow by 57.0% during the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock worth $2,416,000 after acquiring an additional 981 shares in the last quarter. Mission Creek Capital Partners Inc. boosted its stake in shares of ServiceNow by 1.1% during the 3rd quarter. Mission Creek Capital Partners Inc. now owns 2,379 shares of the information technology services provider's stock worth $2,128,000 after acquiring an additional 26 shares in the last quarter. Morse Asset Management Inc boosted its stake in shares of ServiceNow by 0.8% during the 3rd quarter. Morse Asset Management Inc now owns 2,253 shares of the information technology services provider's stock worth $2,015,000 after acquiring an additional 17 shares in the last quarter. Motley Fool Asset Management LLC boosted its stake in shares of ServiceNow by 5.7% during the 3rd quarter. Motley Fool Asset Management LLC now owns 9,479 shares of the information technology services provider's stock worth $8,220,000 after acquiring an additional 515 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its position in shares of ServiceNow by 29.4% in the third quarter. IHT Wealth Management LLC now owns 5,328 shares of the information technology services provider's stock worth $4,742,000 after buying an additional 1,211 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In related news, Director Jeffrey A. Miller sold 2,879 shares of the company's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total value of $2,934,046.48. Following the completion of the transaction, the director now directly owns 42,920 shares of the company's stock, valued at approximately $43,740,630.40. This represents a 6.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 353 shares of the company's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $924.96, for a total transaction of $326,510.88. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $2,799,853.92. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,629 shares of company stock worth $20,861,626. Insiders own 0.25% of the company's stock.

ServiceNow Trading Up 0.1 %

NOW stock traded up $0.94 during trading on Thursday, hitting $1,124.07. The company had a trading volume of 496,904 shares, compared to its average volume of 1,279,910. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $972.88 and a 200-day moving average price of $853.49. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,130.60. The stock has a market cap of $231.56 billion, a price-to-earnings ratio of 173.74, a PEG ratio of 6.07 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.26. The firm had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.75 billion. ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. ServiceNow's revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 EPS. As a group, analysts predict that ServiceNow, Inc. will post 7.07 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Evercore ISI raised their target price on ServiceNow from $950.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. StockNews.com raised ServiceNow from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. JMP Securities raised their target price on ServiceNow from $850.00 to $1,000.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 17th. Mizuho increased their price objective on ServiceNow from $980.00 to $1,070.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Finally, Piper Sandler increased their price objective on ServiceNow from $850.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,002.64.

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.