UniSuper Management Pty Ltd Boosts Holdings in ServiceNow, Inc. (NYSE:NOW)

UniSuper Management Pty Ltd lifted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 27.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,790 shares of the information technology services provider's stock after buying an additional 16,498 shares during the quarter. ServiceNow comprises 0.6% of UniSuper Management Pty Ltd's portfolio, making the stock its 29th biggest holding. UniSuper Management Pty Ltd's holdings in ServiceNow were worth $81,407,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NOW. Atala Financial Inc bought a new stake in ServiceNow during the fourth quarter valued at about $28,000. Truvestments Capital LLC purchased a new stake in shares of ServiceNow during the third quarter worth about $30,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow during the 4th quarter valued at approximately $32,000. FPC Investment Advisory Inc. lifted its holdings in ServiceNow by 725.0% in the 4th 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 in the last quarter. Finally, Noble Wealth Management PBC bought a new position in ServiceNow in the 4th quarter worth approximately $34,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,080,123.85. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,351 shares of company stock valued at $20,050,076. Corporate insiders own 0.25% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NOW shares. Robert W. Baird reduced their price objective on shares of ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating on the stock in a research report on Wednesday. UBS Group reduced their price target on shares of ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. KeyCorp downgraded shares of ServiceNow from an "overweight" rating to a "sector weight" rating in a report on Friday, December 13th. Wells Fargo & Company lifted their target price on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada set a $986.00 price target on ServiceNow in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,093.76.

ServiceNow Trading Down 3.8 %

Shares of NYSE:NOW traded down $31.13 on Friday, hitting $796.61. 1,758,174 shares of the company's stock were exchanged, compared to its average volume of 1,408,303. The stock has a market capitalization of $164.10 billion, a price-to-earnings ratio of 116.63, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month 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 $950.30 and its two-hundred day simple moving average is $984.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. Analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

About ServiceNow

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.