Amundi Purchases 195,370 Shares of ServiceNow, Inc. (NYSE:NOW)

Amundi grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 23.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,012,304 shares of the information technology services provider's stock after acquiring an additional 195,370 shares during the period. Amundi owned 0.49% of ServiceNow worth $1,061,988,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NOW. Avidian Wealth Enterprises LLC raised its stake in shares of ServiceNow by 39.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock valued at $436,000 after acquiring an additional 138 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of ServiceNow by 37.8% in the third quarter. Concurrent Investment Advisors LLC now owns 2,634 shares of the information technology services provider's stock valued at $2,356,000 after purchasing an additional 722 shares in the last quarter. M&G PLC increased its holdings in shares of ServiceNow by 34.5% in the third quarter. M&G PLC now owns 6,492 shares of the information technology services provider's stock valued at $5,804,000 after purchasing an additional 1,666 shares in the last quarter. Advisor Resource Council acquired a new stake in shares of ServiceNow in the third quarter valued at approximately $256,000. Finally, Kornitzer Capital Management Inc. KS increased its holdings in shares of ServiceNow by 6.9% in the third quarter. Kornitzer Capital Management Inc. KS now owns 4,651 shares of the information technology services provider's stock valued at $4,160,000 after purchasing an additional 299 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NOW. The Goldman Sachs Group lifted their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a report on Friday, January 10th. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Scotiabank began coverage on shares of ServiceNow in a report on Tuesday, November 19th. They set a "sector outperform" rating and a $1,230.00 target price for the company. Redburn Atlantic began coverage on shares of ServiceNow in a report on Wednesday, February 19th. They set a "buy" rating for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $1,210.00 target price on shares of ServiceNow in a report on Thursday, January 30th. 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,129.72.

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ServiceNow Stock Performance

Shares of NYSE:NOW opened at $850.54 on Friday. The company's 50 day moving average price is $1,017.44 and its two-hundred day moving average price is $983.88. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The firm has a market cap of $175.21 billion, a PE ratio of 124.53, a PEG ratio of 4.51 and a beta of 1.03. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 earnings per share for the current year.

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

Insiders Place Their Bets

In other news, CEO William R. Mcdermott sold 1,263 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company's stock, valued at approximately $2,644,564.50. This represents a 32.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company's stock in a transaction that occurred on 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 sale, the insider now directly owns 3,649 shares of the company's stock, valued at approximately $3,370,654.28. This trade represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock worth $20,050,076 in the last quarter. Corporate insiders own 0.25% of the company's stock.

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.

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