ServiceNow, Inc. (NYSE:NOW) Stock Position Lowered by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 184,111 shares of the information technology services provider's stock after selling 936 shares during the period. ServiceNow accounts for 1.7% of OMERS ADMINISTRATION Corp's investment portfolio, making the stock its 17th biggest holding. OMERS ADMINISTRATION Corp owned 0.09% of ServiceNow worth $195,180,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NOW. Quarry LP purchased a new stake in ServiceNow in the 4th quarter worth about $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow in the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of ServiceNow in the fourth quarter worth approximately $32,000. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the fourth quarter worth approximately $34,000. Finally, FPC Investment Advisory Inc. grew 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 valued at $34,000 after purchasing an additional 29 shares in the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $1,015.60 on Tuesday. 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 company has a market cap of $210.23 billion, a PE ratio of 148.70, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The firm has a fifty day moving average price of $846.83 and a two-hundred day moving average price of $971.03. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week 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, beating the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter last year, the company earned $3.41 earnings per share. The firm's revenue was up 18.6% on a year-over-year basis. Analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a stock buyback 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 generally a sign that the company's board believes its shares are undervalued.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 191 shares of ServiceNow stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $188,135.00. Following the sale, the general counsel now owns 4,332 shares in the company, valued at $4,267,020. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 257 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $253,145.00. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,981,595. This trade represents a 7.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,844 shares of company stock valued at $14,204,938. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of research reports. Robert W. Baird lifted their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Canaccord Genuity Group reduced their price objective on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler dropped their target price on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. 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 research note on Tuesday, April 22nd. Finally, Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and boosted their price target for the company from $950.00 to $1,200.00 in a research note on Thursday, May 1st. One investment 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,055.83.

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.

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