J. Safra Sarasin Holding AG Buys 4,547 Shares of ServiceNow, Inc. (NYSE:NOW)

J. Safra Sarasin Holding AG grew its stake in ServiceNow, Inc. (NYSE:NOW) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,705 shares of the information technology services provider’s stock after acquiring an additional 4,547 shares during the period. J. Safra Sarasin Holding AG’s holdings in ServiceNow were worth $56,934,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NOW. Norges Bank purchased a new position in ServiceNow during the 4th quarter worth $2,603,360,000. Proficio Capital Partners LLC grew its holdings in ServiceNow by 154,255.3% during the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock worth $667,000 after acquiring an additional 666,383 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of ServiceNow in the 4th quarter valued at about $682,468,000. Raymond James Financial Inc. purchased a new stake in shares of ServiceNow in the 4th quarter worth approximately $393,868,000. Finally, Jennison Associates LLC boosted its stake in shares of ServiceNow by 17.4% during the fourth quarter. Jennison Associates LLC now owns 2,352,111 shares of the information technology services provider’s stock valued at $2,493,520,000 after purchasing an additional 348,187 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Mizuho reduced their price objective on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. upped their price objective on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada set a $986.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. Raymond James reduced their price objective on shares of ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Finally, BMO Capital Markets reduced their price target on ServiceNow from $1,185.00 to $990.00 and set an “outperform” rating on the stock in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,057.17.

ServiceNow Stock Down 3.1 %

ServiceNow stock opened at $772.18 on Monday. 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 business has a 50 day simple moving average of $852.94 and a 200-day simple moving average of $970.69. The stock has a market capitalization of $159.84 billion, a PE ratio of 113.06, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09.

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

ServiceNow announced that its board has authorized a stock repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,250 shares of company stock valued at $19,853,273 over the last ninety days. Insiders own 0.38% of the company’s stock.

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.