Canada Post Corp Registered Pension Plan Invests $3.47 Million in ServiceNow, Inc. (NYSE:NOW)

Canada Post Corp Registered Pension Plan purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,275 shares of the information technology services provider's stock, valued at approximately $3,472,000.

A number of other hedge funds also recently modified their holdings of the stock. Union Bancaire Privee UBP SA acquired a new stake in ServiceNow in the fourth quarter valued at about $48,802,000. Dock Street Asset Management Inc. boosted its stake in shares of ServiceNow by 3.4% in the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock valued at $35,147,000 after purchasing an additional 1,105 shares in the last quarter. Cardano Risk Management B.V. bought a new stake in shares of ServiceNow during the 4th quarter valued at approximately $105,090,000. Rheos Capital Works Inc. acquired a new position in ServiceNow during the 4th quarter worth approximately $10,071,000. Finally, Czech National Bank lifted its stake in ServiceNow by 6.7% in the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider's stock valued at $47,486,000 after purchasing an additional 2,829 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 292 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey A. Miller sold 2,282 shares of ServiceNow stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $1,030.64, for a total value of $2,351,920.48. Following the transaction, the director now directly owns 40,638 shares of the company's stock, valued at $41,883,148.32. The trade was a 5.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,250 shares of company stock worth $19,853,273 over the last quarter. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Performance

NYSE:NOW traded down $24.48 during trading on Friday, reaching $772.18. The company's stock had a trading volume of 1,802,088 shares, compared to its average volume of 1,480,412. The firm has a market cap of $159.84 billion, a price-to-earnings ratio of 113.06, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a 50 day moving average of $852.94 and a 200-day moving average of $969.52.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 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 EPS for the current fiscal year.

ServiceNow announced that its board has authorized a share buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding 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 often a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

NOW has been the topic of a number of research reports. JMP Securities reissued a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. StockNews.com cut ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Truist Financial reduced their target price on ServiceNow from $1,100.00 to $950.00 and set a "hold" rating on the stock in a report on Monday, March 31st. Finally, Raymond James lowered their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,057.17.

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.