Centiva Capital LP Purchases 1,560 Shares of ServiceNow, Inc. (NYSE:NOW)

Centiva Capital LP lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1,300.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,680 shares of the information technology services provider's stock after acquiring an additional 1,560 shares during the period. Centiva Capital LP's holdings in ServiceNow were worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of NOW. Quarry LP purchased a new stake in ServiceNow in the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new position in ServiceNow during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow during the 4th quarter worth about $32,000. Noble Wealth Management PBC purchased a new position in shares of ServiceNow in the 4th quarter valued at $34,000. Finally, FPC Investment Advisory Inc. increased its position in ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after buying an additional 29 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOW. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. Morgan Stanley boosted their target price on shares of ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Redburn Atlantic initiated coverage on ServiceNow in a research report on Wednesday, February 19th. They issued a "buy" rating for the company. Needham & Company LLC reiterated a "buy" rating and issued a $1,050.00 target price on shares of ServiceNow in a report on Tuesday. Finally, William Blair reiterated an "outperform" rating on shares of ServiceNow in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,048.55.

Insider Activity

In other ServiceNow news, Director Jonathan Chadwick sold 770 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the sale, the director now directly owns 3,205 shares in the company, valued at $2,985,842.10. This represents a 19.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the business's stock in a transaction on 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 transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,410 shares of company stock worth $15,821,524 in the last ninety days. Corporate insiders own 0.38% of the company's stock.

ServiceNow Price Performance

NYSE NOW traded up $6.64 on Friday, reaching $981.13. 919,297 shares of the stock traded hands, compared to its average volume of 1,513,424. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm's fifty day simple moving average is $844.85 and its 200 day simple moving average is $970.05. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a market cap of $203.09 billion, a price-to-earnings ratio of 143.65, a P/E/G ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly 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 analysts' expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow's revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the business posted $3.41 EPS. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has initiated a stock repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors 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.