iSAM Funds UK Ltd bought a new position in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 365 shares of the information technology services provider's stock, valued at approximately $387,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in ServiceNow in the 4th quarter worth approximately $27,000. Atala Financial Inc purchased a new stake in ServiceNow in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the 4th quarter worth approximately $32,000. Noble Wealth Management PBC purchased a new stake in ServiceNow during the 4th quarter valued at approximately $34,000. Finally, FPC Investment Advisory Inc. grew its holdings in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after buying an additional 29 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.
ServiceNow Price Performance
NOW opened at $1,020.53 on Wednesday. The business's 50-day moving average is $871.37 and its two-hundred day moving average is $974.45. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year 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 capitalization of $211.25 billion, a PE ratio of 149.42, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.
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 (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the firm earned $3.41 earnings per share. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. Research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.
ServiceNow announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.
Analysts Set New Price Targets
NOW has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,048.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Piper Sandler cut their price objective on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Citigroup increased their price objective on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,062.50.
Check Out Our Latest Report on ServiceNow
Insider Buying and Selling at ServiceNow
In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares of the company's stock, valued at approximately $10,733,252.20. This trade represents a 28.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $67,518.00. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,096,621. This represents a 2.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,061 shares of company stock worth $9,515,766 over the last quarter. Insiders own 0.38% of the company's stock.
ServiceNow Company Profile
(
Free Report)
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.
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