226,756 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 226,756 shares of the information technology services provider's stock, valued at approximately $240,389,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.11% of ServiceNow as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Janus Henderson Group PLC grew its position in ServiceNow by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after acquiring an additional 12,533 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of ServiceNow in the fourth quarter valued at about $48,802,000. Dock Street Asset Management Inc. lifted its position in ServiceNow by 3.4% during the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock worth $35,147,000 after buying an additional 1,105 shares in the last quarter. Rheos Capital Works Inc. bought a new position in ServiceNow in the 4th quarter worth approximately $10,071,000. Finally, FMR LLC raised its position in ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel Russell S. Elmer sold 191 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $985.00, for a total value of $188,135.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares in the company, valued at $4,267,020. The trade was a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $2,435,554.47. The trade was a 10.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,674 shares of company stock valued at $2,510,213 over the last 90 days. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. Redburn Atlantic initiated coverage on shares of ServiceNow in a report on Wednesday, February 19th. They issued a "buy" rating on the stock. Guggenheim upped their target price on shares of ServiceNow from $716.00 to $724.00 and gave the company a "sell" rating in a research report on Thursday, April 24th. Evercore ISI raised their price target on ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. BMO Capital Markets upped their price objective on ServiceNow from $1,025.00 to $1,150.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Finally, Piper Sandler reduced their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow Stock Up 2.3%

Shares of NYSE:NOW traded up $23.33 during trading on Tuesday, hitting $1,027.70. 1,101,587 shares of the company were exchanged, compared to its average volume of 1,526,928. The stock has a market cap of $212.72 billion, a price-to-earnings ratio of 150.47, a P/E/G ratio of 4.51 and a beta of 0.97. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The firm has a fifty day moving average price of $884.98 and a two-hundred day moving average price of $974.97.

ServiceNow (NYSE:NOW - Get Free Report) last issued 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. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow's revenue was up 18.6% on a year-over-year basis. During the same period last year, the business posted $3.41 EPS. As a group, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has approved a share repurchase program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

About ServiceNow

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.