Alberta Investment Management Corp bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 30,351 shares of the information technology services provider's stock, valued at approximately $32,176,000.
Other institutional investors have also made changes to their positions in the company. OLD National Bancorp IN lifted its holdings in shares of ServiceNow by 2.8% in the third quarter. OLD National Bancorp IN now owns 597 shares of the information technology services provider's stock valued at $534,000 after purchasing an additional 16 shares in the last quarter. Vest Financial LLC raised its position in ServiceNow by 205.8% during the third quarter. Vest Financial LLC now owns 994 shares of the information technology services provider's stock valued at $889,000 after buying an additional 669 shares during the period. Raleigh Capital Management Inc. lifted its stake in ServiceNow by 59.5% in the 3rd quarter. Raleigh Capital Management Inc. now owns 662 shares of the information technology services provider's stock worth $592,000 after acquiring an additional 247 shares in the last quarter. Foundations Investment Advisors LLC boosted its position in ServiceNow by 19.3% during the 3rd quarter. Foundations Investment Advisors LLC now owns 624 shares of the information technology services provider's stock worth $558,000 after acquiring an additional 101 shares during the period. Finally, Oakworth Capital Inc. grew its stake in ServiceNow by 46.7% during the 3rd quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock valued at $39,000 after acquiring an additional 14 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Royal Bank of Canada reiterated an "outperform" rating and issued a $1,210.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. StockNews.com lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Raymond James initiated coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They issued an "outperform" rating and a $1,200.00 price target on the stock. Finally, Barclays boosted their target price on ServiceNow from $980.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,129.72.
Read Our Latest Research Report on ServiceNow
Insiders Place Their Bets
In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Tzitzon sold 313 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,884,725.40. This represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,806 shares of company stock worth $16,065,122 in the last ninety days. Insiders own 0.25% of the company's stock.
ServiceNow Stock Performance
NOW traded down $30.19 during midday trading on Friday, reaching $937.79. The company's stock had a trading volume of 2,001,299 shares, compared to its average volume of 1,645,842. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $1,054.69 and a 200 day simple moving average of $977.09. The stock has a market cap of $193.18 billion, a P/E ratio of 137.30, a PEG ratio of 4.60 and a beta of 0.99. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.
ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (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%. Research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.
ServiceNow announced that its board has authorized a share buyback plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.
ServiceNow Profile
(
Free Report)
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.
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