ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Groupama Asset Managment

Groupama Asset Managment boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 52.4% in the 4th quarter, Holdings Channel reports. The fund owned 10,942 shares of the information technology services provider’s stock after acquiring an additional 3,761 shares during the quarter. Groupama Asset Managment’s holdings in ServiceNow were worth $11,683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NOW. Atala Financial Inc purchased a new position in shares of ServiceNow during the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow in the fourth quarter valued at approximately $32,000. Noble Wealth Management PBC acquired a new stake in ServiceNow during the fourth quarter worth $34,000. FPC Investment Advisory Inc. increased its stake 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 worth $34,000 after acquiring an additional 29 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in ServiceNow in the fourth quarter valued at $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock valued at $20,050,076 over the last quarter. Company insiders own 0.25% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $797.39 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $944.81 and its two-hundred day moving average is $984.23. The firm has a market capitalization of $164.26 billion, a P/E ratio of 116.75, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data 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%. Research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its board has authorized a share repurchase 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NOW. Truist Financial cut their price objective on ServiceNow from $1,100.00 to $950.00 and set a “hold” rating for the company in a research report on Monday. 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 research note on Tuesday, December 10th. Jefferies Financial Group decreased their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Needham & Company LLC lifted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their price target on ServiceNow from $950.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $1,088.59.

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.