Sava Infond d.o.o. Takes Position in ServiceNow, Inc. (NYSE:NOW)

Sava Infond d.o.o. purchased a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,275 shares of the information technology services provider's stock, valued at approximately $25,734,000. ServiceNow makes up 4.6% of Sava Infond d.o.o.'s investment portfolio, making the stock its 5th biggest holding.

Several other hedge funds also recently modified their holdings of the company. Atala Financial Inc acquired a new stake in ServiceNow during the fourth quarter valued at $28,000. Truvestments Capital LLC acquired a new stake in shares of ServiceNow in the third quarter worth $30,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the fourth quarter valued at about $32,000. FPC Investment Advisory Inc. lifted its holdings in shares of 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 buying an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new position in ServiceNow in the 4th quarter valued at approximately $34,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NOW shares. Jefferies Financial Group cut their price objective on ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $1,275.00 price target on shares of ServiceNow in a research note on Tuesday, March 11th. UBS Group cut their price target on 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. Citigroup reduced their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. boosted their price target on ServiceNow from $950.00 to $1,250.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,093.76.

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Insiders Place Their Bets

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company'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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the business's stock in a transaction on 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 transaction, the chief financial officer now directly owns 11,126 shares of the company's stock, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock worth $20,050,076 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of NOW stock traded down $31.13 during trading hours on Friday, reaching $796.61. The company had a trading volume of 1,758,174 shares, compared to its average volume of 1,408,303. The business has a fifty day moving average price of $950.30 and a 200-day moving average price of $984.09. The firm has a market cap of $164.10 billion, a PE ratio of 116.63, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

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, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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