ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Scotia Capital Inc.

Scotia Capital Inc. increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,752 shares of the information technology services provider's stock after buying an additional 1,034 shares during the period. Scotia Capital Inc.'s holdings in ServiceNow were worth $26,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Evexia Wealth LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at approximately $356,000. CenterBook Partners LP raised its holdings in shares of ServiceNow by 380.7% during the 4th quarter. CenterBook Partners LP now owns 3,230 shares of the information technology services provider's stock worth $3,424,000 after buying an additional 2,558 shares in the last quarter. DRW Securities LLC boosted its stake in ServiceNow by 72.6% in the fourth quarter. DRW Securities LLC now owns 15,053 shares of the information technology services provider's stock valued at $15,958,000 after buying an additional 6,331 shares in the last quarter. Texas Yale Capital Corp. raised its stake in ServiceNow by 0.9% during the fourth quarter. Texas Yale Capital Corp. now owns 2,341 shares of the information technology services provider's stock worth $2,482,000 after acquiring an additional 20 shares in the last quarter. Finally, APG Asset Management N.V. boosted its stake in shares of ServiceNow by 680.1% in the 4th quarter. APG Asset Management N.V. now owns 201,113 shares of the information technology services provider's stock valued at $205,895,000 after purchasing an additional 175,334 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Remove Ads

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 455 shares of ServiceNow 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. The trade was a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 transaction 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. The trade was a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 in the last 90 days. Company insiders own 0.25% of the company's stock.

ServiceNow Stock Performance

NOW stock traded up $6.21 during trading on Monday, reaching $791.88. The company had a trading volume of 627,186 shares, compared to its average volume of 1,463,856. The company has a market cap of $163.92 billion, a price-to-earnings ratio of 115.94, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The firm has a 50-day simple moving average of $875.51 and a 200-day simple moving average of $973.89. 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 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 return on equity of 17.11% and a net margin of 12.97%. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has approved a stock buyback 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 purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus reduced their price objective on ServiceNow from $1,175.00 to $950.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. The Goldman Sachs Group cut their target price on shares of ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Thursday. Mizuho cut their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a report on Tuesday, March 11th. Jefferies Financial Group decreased 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. Finally, Scotiabank dropped their target price on shares of ServiceNow from $1,230.00 to $1,050.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,068.76.

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.