ServiceNow, Inc. (NYSE:NOW) Shares Sold by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. lowered its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,860 shares of the information technology services provider's stock after selling 1,200 shares during the quarter. ServiceNow comprises approximately 1.3% of China Universal Asset Management Co. Ltd.'s investment portfolio, making the stock its 16th largest holding. China Universal Asset Management Co. Ltd.'s holdings in ServiceNow were worth $13,633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Polymer Capital Management HK LTD grew its position in ServiceNow by 57.0% during the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock valued at $2,416,000 after buying an additional 981 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of ServiceNow during the 4th quarter valued at $48,802,000. Avidian Wealth Enterprises LLC increased its stake in ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock worth $436,000 after acquiring an additional 138 shares during the last quarter. Venturi Wealth Management LLC raised its stake in ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock valued at $2,565,000 after purchasing an additional 765 shares in the last quarter. Finally, Cardano Risk Management B.V. purchased a new position in shares of ServiceNow in the 4th quarter worth about $105,090,000. 87.18% of the stock is owned by institutional investors.

ServiceNow Stock Performance

NYSE:NOW traded down $10.79 during midday trading on Tuesday, hitting $1,010.15. The company's stock had a trading volume of 1,650,188 shares, compared to its average volume of 1,717,272. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week 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 firm has a market cap of $208.09 billion, a P/E ratio of 147.90, a P/E/G ratio of 4.74 and a beta of 0.99. The firm's 50 day moving average is $1,083.05 and its 200-day moving average is $959.36.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) 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%. Equities analysts anticipate that ServiceNow, Inc. will post 8.94 earnings per share for the current fiscal year.

ServiceNow announced that its board has initiated a stock buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. Truist Financial lifted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. The Goldman Sachs Group upped their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Mizuho raised their target price on shares of ServiceNow from $1,070.00 to $1,210.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. TD Cowen increased their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Finally, Barclays increased their price target on ServiceNow from $980.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,129.72.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 2,229 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the completion of the sale, the director now owns 11,000 shares of the company's stock, valued at approximately $11,710,600. The trade was a 16.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,731 shares of company stock valued at $21,016,751. Corporate insiders own 0.25% of the company's stock.

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.