CANADA LIFE ASSURANCE Co Grows Position in ServiceNow, Inc. (NYSE:NOW)

CANADA LIFE ASSURANCE Co grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,403 shares of the information technology services provider's stock after acquiring an additional 6,372 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.09% of ServiceNow worth $205,889,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of ServiceNow during the third quarter worth about $9,833,000. Anchor Investment Management LLC increased its holdings in ServiceNow by 6.1% in the third quarter. Anchor Investment Management LLC now owns 1,364 shares of the information technology services provider's stock valued at $1,220,000 after buying an additional 78 shares during the last quarter. Stock Yards Bank & Trust Co. bought a new position in shares of ServiceNow in the 3rd quarter worth about $202,000. World Investment Advisors LLC boosted its stake in ServiceNow by 585.8% in the third quarter. World Investment Advisors LLC now owns 6,549 shares of the information technology services provider's stock valued at $5,857,000 after acquiring an additional 5,594 shares during the period. Finally, Sfmg LLC acquired a new stake in ServiceNow in the third quarter worth $226,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction dated 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 in the company, valued at $2,435,554.47. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 3,649 shares of the company's stock, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,250 shares of company stock valued at $19,853,273. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on NOW shares. Robert W. Baird cut their price objective on ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. The Goldman Sachs Group reduced their target price on ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Raymond James decreased their price objective on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. UBS Group decreased their price target on ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. Finally, Scotiabank lowered their target price on shares of ServiceNow from $1,230.00 to $1,050.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,056.07.

ServiceNow Trading Down 3.0 %

Shares of NOW stock traded down $23.50 on Monday, reaching $748.66. 779,244 shares of the stock were exchanged, compared to its average volume of 1,865,623. The stock has a 50 day moving average price of $852.94 and a 200 day moving average price of $970.69. The stock has a market cap of $154.97 billion, a PE ratio of 109.61, a P/E/G ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting 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 forecast 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 program 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 reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

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.