Anomaly Capital Management LP Makes New Investment in ServiceNow, Inc. (NYSE:NOW)

Anomaly Capital Management LP bought a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 44,390 shares of the information technology services provider's stock, valued at approximately $47,059,000. ServiceNow comprises about 1.4% of Anomaly Capital Management LP's investment portfolio, making the stock its 25th largest holding.

A number of other large investors have also made changes to their positions in NOW. Atala Financial Inc purchased a new stake in ServiceNow in the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow in the fourth quarter valued at about $32,000. FPC Investment Advisory Inc. boosted its stake in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after buying an additional 29 shares during the period. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow in the 4th quarter valued at approximately $37,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $7.51 during trading on Friday, reaching $946.08. The company's stock had a trading volume of 2,886,611 shares, compared to its average volume of 1,511,782. The company has a 50-day moving average price of $839.67 and a two-hundred day moving average price of $967.34. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The firm has a market cap of $195.84 billion, a PE ratio of 138.52, a P/E/G ratio of 4.51 and a beta of 1.08. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. The trade was a 10.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the firm's stock in a transaction on Monday, February 10th. The stock was 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 $2,644,564.50. This trade represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,250 shares of company stock valued at $19,853,273 over the last quarter. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Jefferies Financial Group dropped their price objective on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Barclays set a $969.00 target price on ServiceNow in a research note on Thursday. Truist Financial cut their price target on shares of ServiceNow from $1,100.00 to $950.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Finally, BMO Capital Markets lowered their price objective on shares of ServiceNow from $990.00 to $950.00 and set an "outperform" rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus target price of $1,032.94.

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.