ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. increased its position in shares of ServiceNow, Inc. (NYSE:NOW) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,988 shares of the information technology services provider’s stock after purchasing an additional 1,700 shares during the period. ServiceNow accounts for about 0.6% of Mn Services Vermogensbeheer B.V.’s holdings, making the stock its 27th biggest holding. Mn Services Vermogensbeheer B.V.’s holdings in ServiceNow were worth $85,857,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Polymer Capital Management HK LTD lifted its stake in ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock worth $2,416,000 after acquiring an additional 981 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in ServiceNow during the fourth quarter worth $48,802,000. Dock Street Asset Management Inc. boosted its stake in shares of 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 acquiring an additional 1,105 shares in the last quarter. Avidian Wealth Enterprises LLC increased its holdings in ServiceNow by 39.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider’s stock valued at $436,000 after acquiring an additional 138 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in ServiceNow by 36.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider’s stock worth $2,565,000 after acquiring an additional 765 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on NOW. Redburn Atlantic initiated coverage on ServiceNow in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $1,210.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. TD Cowen boosted their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Citigroup dropped their target price on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, Guggenheim reiterated a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,129.72.

ServiceNow Stock Performance

NYSE NOW opened at $941.79 on Thursday. The firm has a market capitalization of $194.01 billion, a P/E ratio of 137.89, a P/E/G ratio of 4.51 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The business’s 50-day simple moving average is $1,044.39 and its 200-day simple moving average is $981.23.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Equities analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Edward Chamberlain sold 300 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,047.95, for a total transaction of $314,385.00. Following the transaction, the director now owns 10,467 shares in the company, valued at $10,968,892.65. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,706 shares of company stock worth $17,644,106 in the last 90 days. 0.25% of the stock is owned by insiders.

ServiceNow 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.