ServiceNow, Inc. (NYSE:NOW) is Thematics Asset Management's 2nd Largest Position

Thematics Asset Management decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 68,191 shares of the information technology services provider's stock after selling 13,119 shares during the quarter. ServiceNow accounts for about 3.2% of Thematics Asset Management's investment portfolio, making the stock its 2nd biggest position. Thematics Asset Management's holdings in ServiceNow were worth $72,291,000 as of its most recent filing with the SEC.

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

ServiceNow Price Performance

NOW traded up $128.54 on Thursday, hitting $941.24. 4,297,528 shares of the stock were exchanged, compared to its average volume of 1,500,655. The business has a 50-day moving average of $840.59 and a two-hundred day moving average of $967.11. The firm has a market capitalization of $194.84 billion, a price-to-earnings ratio of 137.17, a PEG ratio of 4.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $2.31 EPS for the quarter, missing analysts' consensus estimates of $3.78 by ($1.47). The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Guggenheim upped their target price on shares of ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a research report on Thursday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ServiceNow in a research note on Thursday. Wells Fargo & Company boosted their price objective on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday. Redburn Atlantic started coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, Jefferies Financial Group lowered their target price on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,035.39.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the firm's 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 approximately $2,435,554.47. This trade represents a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company's stock in a transaction on 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 directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,250 shares of company stock worth $19,853,273 in the last ninety days. Company insiders own 0.38% 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.