OPTIMAS CAPITAL Ltd Takes Position in ServiceNow, Inc. (NYSE:NOW)

OPTIMAS CAPITAL Ltd purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,600 shares of the information technology services provider's stock, valued at approximately $1,696,000. ServiceNow comprises 2.3% of OPTIMAS CAPITAL Ltd's portfolio, making the stock its 20th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOW. Atala Financial Inc acquired a new position in ServiceNow during the fourth quarter worth about $28,000. Truvestments Capital LLC purchased a new position in ServiceNow during the third quarter worth about $30,000. LFA Lugano Financial Advisors SA purchased a new position in ServiceNow during the fourth quarter worth about $32,000. FPC Investment Advisory Inc. raised its stake in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares during the period. Finally, Noble Wealth Management PBC purchased a new position in ServiceNow during the fourth quarter worth about $34,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction on 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 transaction, the insider now directly owns 3,027 shares of the company's stock, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 in the last ninety days. Insiders own 0.25% of the company's stock.

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ServiceNow Stock Up 0.5 %

NYSE NOW traded up $3.80 on Friday, hitting $827.92. 2,904,241 shares of the stock were exchanged, compared to its average volume of 1,349,511. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a market cap of $170.55 billion, a PE ratio of 121.22, a PEG ratio of 4.51 and a beta of 1.03. The company has a 50-day moving average price of $971.31 and a 200-day moving average price of $983.30.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. UBS Group reduced their target price on shares of ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada set a $986.00 price target on shares of ServiceNow in a research note on Tuesday, March 11th. Finally, Truist Financial boosted their price target on shares of ServiceNow from $900.00 to $1,100.00 and gave the company a "hold" rating in a research note on Thursday, December 12th. 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,100.31.

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.