Banque Transatlantique SA Takes $58.59 Million Position in ServiceNow, Inc. (NYSE:NOW)

Banque Transatlantique SA bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 55,264 shares of the information technology services provider's stock, valued at approximately $58,586,000. ServiceNow makes up about 1.4% of Banque Transatlantique SA's investment portfolio, making the stock its 19th biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Avidian Wealth Enterprises LLC increased its holdings in ServiceNow by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after purchasing an additional 9 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $487,000 after acquiring an additional 10 shares during the period. Institute for Wealth Management LLC. raised its position in shares of ServiceNow by 0.4% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock valued at $2,779,000 after acquiring an additional 11 shares during the last quarter. TBH Global Asset Management LLC lifted its stake in shares of ServiceNow by 3.8% in the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock valued at $320,000 after purchasing an additional 11 shares during the period. Finally, Onefund LLC grew its stake in shares of ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after purchasing an additional 11 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Trading Up 1.8 %

Shares of NYSE:NOW traded up $17.72 during midday trading on Wednesday, hitting $982.98. 1,729,532 shares of the stock were exchanged, compared to its average volume of 1,512,662. The business's 50-day moving average price is $840.96 and its 200 day moving average price is $969.12. The stock has a market capitalization of $203.48 billion, a price-to-earnings ratio of 143.92, a P/E/G ratio of 4.51 and a beta of 0.97. 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 quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.41 EPS. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Analysts Set New Price Targets

Several research firms have weighed in on NOW. Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Bank of America cut their price target on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Tuesday. Mizuho reduced their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Finally, Robert W. Baird upped their price objective on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,048.55.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 292 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Russell S. Elmer sold 336 shares of the stock in a transaction dated 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 sale, the general counsel now directly owns 4,332 shares of the company's stock, valued at approximately $4,408,026.60. The trade was a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,692 shares of company stock valued at $18,173,444 over the last 90 days. 0.38% of the stock is owned by insiders.

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.