Generali Asset Management SPA SGR Makes New $20.06 Million Investment in ServiceNow, Inc. (NYSE:NOW)

Generali Asset Management SPA SGR acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,920 shares of the information technology services provider's stock, valued at approximately $20,057,000.

A number of other large investors have also recently added to or reduced their stakes in NOW. Atala Financial Inc acquired a new stake in ServiceNow in the 4th quarter valued at about $28,000. Truvestments Capital LLC acquired a new stake in ServiceNow in the 3rd quarter valued at about $30,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow in the 4th quarter valued at about $32,000. FPC Investment Advisory Inc. boosted its stake in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the 4th quarter worth about $34,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NOW shares. JPMorgan Chase & Co. raised their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Oppenheimer raised their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Royal Bank of Canada set a $986.00 price target on shares of ServiceNow in a research note on Tuesday, March 11th. Truist Financial raised their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the stock a "hold" rating in a research note on Thursday, December 12th. Finally, TD Cowen raised their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,100.31.

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Insiders Place Their Bets

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now owns 3,649 shares of the company's stock, valued at $3,370,654.28. The trade was a 44.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is owned by corporate insiders.

ServiceNow Stock Performance

Shares of NOW traded up $3.80 during midday trading on Friday, hitting $827.92. 2,904,241 shares of the stock traded hands, compared to its average volume of 1,349,511. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The business's 50 day moving average price is $971.31 and its two-hundred day moving average price is $983.30. 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 firm has a market capitalization of $170.55 billion, a PE ratio of 121.22, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

About ServiceNow

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.