Natural Investments LLC Purchases New Stake in ServiceNow, Inc. (NYSE:NOW)

Natural Investments LLC purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,808 shares of the information technology services provider's stock, valued at approximately $5,096,000. ServiceNow accounts for 1.4% of Natural Investments LLC's holdings, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. World Investment Advisors LLC boosted its holdings in ServiceNow by 499,668.1% in the third 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 acquiring an additional 4,771,830 shares in the last quarter. Bank of Montreal Can grew its holdings in ServiceNow by 216.6% during the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider's stock valued at $1,206,178,000 after buying an additional 935,848 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after purchasing an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in ServiceNow in the fourth quarter worth $682,468,000. Finally, Wellington Management Group LLP lifted its position in shares of ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider's stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Trading Down 8.1 %

Shares of NYSE:NOW opened at $781.60 on Tuesday. The company has a market capitalization of $161.01 billion, a P/E ratio of 114.44, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. 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 simple moving average is $1,011.72 and its 200 day simple moving average is $985.64.

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ServiceNow (NYSE:NOW - Get Free Report) last released its 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%. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has approved a share repurchase 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 shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

NOW has been the subject of a number of analyst reports. Truist Financial boosted their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a "hold" rating in a report on Thursday, December 12th. Oppenheimer lifted their target price 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. The Goldman Sachs Group boosted their price target on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Royal Bank of Canada restated an "outperform" rating and set a $1,210.00 price objective on shares of ServiceNow in a research note on Thursday, January 30th. Finally, Guggenheim reaffirmed a "sell" rating and set a $716.00 price objective on shares of ServiceNow in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,129.72.

Insiders Place Their Bets

In other news, CFO Gina Mastantuono sold 4,442 shares of the firm's 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 completion of the sale, the chief financial officer now directly owns 11,126 shares in the company, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 3,649 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders sold 20,351 shares of company stock worth $20,050,076. Company insiders own 0.25% of the company's stock.

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.

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