489 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 489 shares of the information technology services provider's stock, valued at approximately $518,000.

A number of other large investors also recently added to or reduced their stakes in the business. Union Bancaire Privee UBP SA bought a new stake in ServiceNow in the fourth quarter valued at about $48,802,000. Dock Street Asset Management Inc. increased 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 acquiring an additional 1,105 shares during the last quarter. Cardano Risk Management B.V. acquired a new stake in shares of ServiceNow in the 4th quarter valued at approximately $105,090,000. Rheos Capital Works Inc. bought a new position in ServiceNow during the 4th quarter worth approximately $10,071,000. Finally, Czech National Bank grew its holdings in ServiceNow by 6.7% during the fourth 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 period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOW. JPMorgan Chase & Co. boosted their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Truist Financial lowered their target price on ServiceNow from $1,100.00 to $950.00 and set a "hold" rating for the company in a research note on Monday, March 31st. William Blair reiterated an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. StockNews.com cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Finally, Citigroup lowered their target price on ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,073.93.

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Insider Transactions at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the transaction, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company's stock, valued at $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. Over the last 90 days, insiders sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of NYSE:NOW traded up $2.29 during trading on Friday, reaching $785.78. 2,102,410 shares of the stock were exchanged, compared to its average volume of 1,464,960. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a 50-day moving average price of $875.51 and a 200-day moving average price of $973.27. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $162.66 billion, a PE ratio of 115.05, a PEG ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

About ServiceNow

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.