Jump Financial LLC Grows Holdings in ServiceNow, Inc. (NYSE:NOW)

Jump Financial LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 288.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,680 shares of the information technology services provider's stock after acquiring an additional 4,962 shares during the quarter. Jump Financial LLC's holdings in ServiceNow were worth $7,082,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NOW. Union Bancaire Privee UBP SA acquired a new position in shares of ServiceNow in the 4th quarter valued at about $48,802,000. Dock Street Asset Management Inc. lifted its holdings in ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock valued at $35,147,000 after acquiring an additional 1,105 shares during the period. Cardano Risk Management B.V. acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $105,090,000. Rheos Capital Works Inc. acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $10,071,000. Finally, Czech National Bank increased its holdings in shares of ServiceNow by 6.7% during the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider's stock valued at $47,486,000 after purchasing an additional 2,829 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In other ServiceNow 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 transaction of $1,287,123.30. Following the completion of the sale, the chief executive officer now directly owns 2,595 shares of the company's stock, valued at $2,644,564.50. The trade was a 32.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,250 shares of company stock valued at $19,853,273. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Trading Down 3.1 %

Shares of NYSE NOW traded down $24.48 during trading on Friday, reaching $772.18. The stock had a trading volume of 1,802,088 shares, compared to its average volume of 1,477,657. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $159.84 billion, a P/E ratio of 113.06, a PEG ratio of 4.51 and a beta of 1.08. The business's 50-day moving average price is $857.67 and its 200-day moving average price is $970.18. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, equities research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has approved a share buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Oppenheimer lifted their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Redburn Atlantic initiated coverage on ServiceNow in a report on Wednesday, February 19th. They issued a "buy" rating on the stock. Robert W. Baird decreased their target price on ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Morgan Stanley reduced their price objective on shares of ServiceNow from $960.00 to $881.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $1,048.00 price target on shares of ServiceNow in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,057.17.

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.