7,400 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by CIBC Capital Markets Europe S.A.

CIBC Capital Markets Europe S.A. bought a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,400 shares of the information technology services provider's stock, valued at approximately $7,844,000. ServiceNow comprises approximately 10.8% of CIBC Capital Markets Europe S.A.'s portfolio, making the stock its 4th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in NOW. Polymer Capital Management HK LTD raised its holdings in shares of ServiceNow by 57.0% during the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock worth $2,416,000 after acquiring an additional 981 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $48,802,000. Avidian Wealth Enterprises LLC boosted its position in shares of ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock worth $436,000 after buying an additional 138 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock worth $2,565,000 after buying an additional 765 shares in the last quarter. Finally, Cardano Risk Management B.V. acquired a new stake in ServiceNow in the 4th quarter valued at approximately $105,090,000. 87.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anita M. Sands sold 2,229 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the sale, the director now owns 11,000 shares in the company, valued at $11,710,600. This trade represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,731 shares of company stock valued at $21,016,751. Insiders own 0.25% of the company's stock.

ServiceNow Stock Up 0.9 %

NOW stock traded up $9.42 during midday trading on Wednesday, reaching $1,019.55. 843,713 shares of the company were exchanged, compared to its average volume of 1,699,565. The stock's 50-day simple moving average is $1,081.85 and its 200 day simple moving average is $961.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a market cap of $210.03 billion, a price-to-earnings ratio of 149.20, a price-to-earnings-growth ratio of 4.74 and a beta of 0.99.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, equities analysts forecast that ServiceNow, Inc. will post 8.94 earnings per share for the current year.

ServiceNow announced that its board has approved a share repurchase plan 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently commented on NOW shares. Raymond James assumed coverage on shares of ServiceNow in a report on Tuesday, December 24th. They set an "outperform" rating and a $1,200.00 target price for the company. Mizuho lifted their price target on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Wells Fargo & Company upped their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Piper Sandler raised their price target on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Finally, Cantor Fitzgerald assumed coverage on shares of ServiceNow in a report on Friday, January 17th. They set an "overweight" rating and a $1,332.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,129.72.

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.