Ilmarinen Mutual Pension Insurance Co Increases Stock Position in ServiceNow, Inc. (NYSE:NOW)

Ilmarinen Mutual Pension Insurance Co raised its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 27.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,284 shares of the information technology services provider's stock after purchasing an additional 7,500 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in ServiceNow were worth $37,405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. World Investment Advisors LLC grew its position in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider's stock valued at $4,268,731,000 after buying an additional 4,771,830 shares during the last quarter. Norges Bank acquired a new position in ServiceNow in the fourth quarter valued at $2,603,360,000. Proficio Capital Partners LLC grew its holdings in shares of ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after purchasing an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in shares of ServiceNow during the fourth quarter worth about $682,468,000. Finally, Wellington Management Group LLP lifted its holdings in shares of ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider's stock valued at $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 292 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $3,080,123.85. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gina Mastantuono sold 4,442 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were 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 directly owns 11,126 shares in the company, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock worth $20,050,076 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Price Performance

NOW traded up $9.48 during midday trading on Wednesday, reaching $737.08. 802,931 shares of the company's stock were exchanged, compared to its average volume of 1,846,512. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The stock has a market capitalization of $151.84 billion, a PE ratio of 107.92, a P/E/G ratio of 4.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The business's 50-day moving average price is $892.36 and its 200 day moving average price is $976.70.

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, meeting analysts' consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, equities analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has approved a stock repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on the company. Jefferies Financial Group cut their price target on ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating on the stock in a research report on Thursday, January 30th. JMP Securities reiterated a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. TD Cowen raised their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. BMO Capital Markets decreased their target price on shares of ServiceNow from $1,185.00 to $990.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Finally, Oppenheimer upped their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,079.10.

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.