Natixis Acquires 146,295 Shares of ServiceNow, Inc. (NYSE:NOW)

Natixis raised its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1,524.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 155,892 shares of the information technology services provider's stock after purchasing an additional 146,295 shares during the quarter. ServiceNow makes up about 1.0% of Natixis' investment portfolio, making the stock its 14th largest position. Natixis owned approximately 0.08% of ServiceNow worth $165,264,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $2,603,360,000. Proficio Capital Partners LLC increased its stake in shares of ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after buying an additional 666,383 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in shares of ServiceNow during the fourth quarter worth $682,468,000. Raymond James Financial Inc. acquired a new position in shares of ServiceNow during the fourth quarter valued at $393,868,000. Finally, Jennison Associates LLC boosted its holdings in ServiceNow by 17.4% in the fourth quarter. Jennison Associates LLC now owns 2,352,111 shares of the information technology services provider's stock valued at $2,493,520,000 after acquiring an additional 348,187 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

NOW has been the topic of a number of research reports. Needham & Company LLC upped their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. BMO Capital Markets cut their price objective on shares of ServiceNow from $990.00 to $950.00 and set an "outperform" rating on the stock in a report on Tuesday. The Goldman Sachs Group lowered their target price on shares of ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Stifel Nicolaus cut their price target on ServiceNow from $1,175.00 to $950.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Piper Sandler lifted their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,021.43.

Insider Transactions at ServiceNow

In related news, General Counsel Russell S. Elmer sold 336 shares of ServiceNow stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $341,896.80. Following the completion of the transaction, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,408,026.60. The trade was a 7.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,250 shares of company stock worth $19,853,273 over the last quarter. 0.38% of the stock is currently owned by insiders.

ServiceNow Trading Up 6.3 %

Shares of NOW stock traded up $48.17 during mid-day trading on Wednesday, reaching $815.00. 1,635,089 shares of the stock traded hands, compared to its average volume of 1,482,168. The stock's fifty day simple moving average is $843.99 and its two-hundred day simple moving average is $968.16. 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 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a market cap of $168.71 billion, a price-to-earnings ratio of 119.33, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08.

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

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

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.