408 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by Banco BTG Pactual S.A.

Banco BTG Pactual S.A. purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 408 shares of the information technology services provider's stock, valued at approximately $430,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ausdal Financial Partners Inc. boosted its holdings in shares of ServiceNow by 5.8% in the 4th quarter. Ausdal Financial Partners Inc. now owns 671 shares of the information technology services provider's stock valued at $711,000 after buying an additional 37 shares during the last quarter. Financial Engines Advisors L.L.C. raised its position in ServiceNow by 3.1% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 3,144 shares of the information technology services provider's stock worth $3,333,000 after acquiring an additional 94 shares in the last quarter. UNIVEST FINANCIAL Corp lifted its stake in ServiceNow by 1.3% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 6,210 shares of the information technology services provider's stock valued at $6,583,000 after acquiring an additional 82 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of ServiceNow in the 4th quarter valued at about $1,163,000. Finally, Florida Financial Advisors LLC bought a new stake in shares of ServiceNow in the 4th quarter valued at about $219,000. 87.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOW has been the topic of a number of recent analyst reports. Robert W. Baird lowered their price target on ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating on the stock in a research report on Wednesday. Citigroup decreased their target price on ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company raised their price target on ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. William Blair reiterated an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. Finally, The Goldman Sachs Group increased their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,093.76.

Remove Ads

ServiceNow Price Performance

Shares of NYSE:NOW traded down $31.13 during trading on Friday, hitting $796.61. 1,758,174 shares of the company were exchanged, compared to its average volume of 1,408,303. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a market capitalization of $164.10 billion, a P/E ratio of 116.63, a price-to-earnings-growth 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. The business's 50 day moving average is $950.30 and its 200-day moving average is $984.09.

ServiceNow (NYSE:NOW - Get Free Report) last issued 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 return on equity of 17.11% and a net margin of 12.97%. Equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a stock buyback program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 in the last ninety days. 0.25% of the stock is currently owned by insiders.

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.