Janus Henderson Group PLC Grows Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Janus Henderson Group PLC grew its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 824,725 shares of the information technology services provider's stock after buying an additional 12,533 shares during the period. Janus Henderson Group PLC owned 0.40% of ServiceNow worth $874,258,000 at the end of the most recent quarter.

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

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $10,733,252.20. The trade was a 28.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 384 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $986.64, for a total value of $378,869.76. Following the transaction, the chief executive officer now owns 6,614 shares of the company's stock, valued at $6,525,636.96. The trade was a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,844 shares of company stock valued at $14,204,938 over the last ninety days. 0.38% of the stock is owned by corporate insiders.

ServiceNow Price Performance

NOW stock traded up $14.22 during trading hours on Tuesday, hitting $1,029.82. 299,946 shares of the stock traded hands, compared to its average volume of 1,884,584. The company has a market cap of $213.17 billion, a P/E ratio of 150.82, 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. The stock has a 50-day simple moving average of $846.83 and a 200 day simple moving average of $971.03. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released 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 business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The firm's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the business earned $3.41 earnings per share. Equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has authorized a stock buyback 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 reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have commented on NOW. JPMorgan Chase & Co. cut their price target on ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. BMO Capital Markets decreased their price objective on ServiceNow from $990.00 to $950.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Piper Sandler cut their price target on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, UBS Group restated a "buy" rating and set a $1,025.00 price objective (up previously from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and a consensus price target of $1,055.83.

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.