Generali Investments Management Co LLC Takes Position in ServiceNow, Inc. (NYSE:NOW)

Generali Investments Management Co LLC acquired a new stake 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 5,222 shares of the information technology services provider's stock, valued at approximately $5,536,000. ServiceNow accounts for approximately 1.4% of Generali Investments Management Co LLC's holdings, making the stock its 12th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. United Bank acquired a new position in ServiceNow during the 3rd quarter worth $480,000. MidAtlantic Capital Management Inc. bought a new position in ServiceNow during the 3rd quarter worth $58,000. Baron Wealth Management LLC lifted its stake in ServiceNow by 7.5% in the third quarter. Baron Wealth Management LLC now owns 959 shares of the information technology services provider's stock valued at $858,000 after buying an additional 67 shares during the last quarter. Aviance Capital Partners LLC acquired a new position in ServiceNow during the 3rd quarter valued at about $2,806,000. Finally, Pathstone Holdings LLC grew its position in ServiceNow by 1.1% in the 3rd quarter. Pathstone Holdings LLC now owns 33,833 shares of the information technology services provider's stock worth $30,260,000 after purchasing an additional 381 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow 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 sale, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares of the company's stock, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,351 shares of company stock worth $20,050,076. Insiders own 0.25% of the company's stock.

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Analyst Ratings Changes

A number of brokerages have recently commented on NOW. Redburn Atlantic initiated coverage on ServiceNow in a report on Wednesday, February 19th. They set a "buy" rating on the stock. Scotiabank decreased 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. Mizuho dropped their price target on ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. The Goldman Sachs Group increased their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Finally, Wells Fargo & Company lifted 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,100.31.

ServiceNow Stock Up 0.5 %

ServiceNow stock traded up $3.80 during midday trading on Friday, reaching $827.92. The stock had a trading volume of 2,904,241 shares, compared to its average volume of 1,351,375. The company has a fifty day moving average price of $971.31 and a two-hundred day moving average price of $984.34. The company has a market capitalization of $170.55 billion, a P/E ratio of 121.22, a PEG ratio of 4.51 and a beta of 1.03. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (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%. As a group, equities 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 stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are 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.