ServiceNow, Inc. (NYSE:NOW) Stock Position Raised by Norinchukin Bank The

Norinchukin Bank The lifted its position in ServiceNow, Inc. (NYSE:NOW) by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,885 shares of the information technology services provider’s stock after buying an additional 1,125 shares during the quarter. Norinchukin Bank The’s holdings in ServiceNow were worth $10,479,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Atala Financial Inc acquired a new position in shares of ServiceNow during the 4th quarter worth $28,000. LFA Lugano Financial Advisors SA bought a new stake in ServiceNow in the fourth quarter worth $32,000. FPC Investment Advisory Inc. boosted its holdings in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares in the last quarter. Noble Wealth Management PBC bought a new position in ServiceNow during the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC bought a new position in ServiceNow during the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 3.1 %

NOW stock opened at $772.18 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a market cap of $159.84 billion, a price-to-earnings ratio of 113.06, a P/E/G ratio of 4.51 and a beta of 1.08. 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 business has a 50 day moving average price of $852.94 and a two-hundred day moving average price of $969.52.

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

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

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the sale, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. This represents a 10.47 % 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, CEO William R. Mcdermott sold 1,263 shares of ServiceNow stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,250 shares of company stock valued at $19,853,273 in the last quarter. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank of Canada set a $986.00 price objective on ServiceNow in a report on Tuesday, March 11th. Wells Fargo & Company lowered their price target on ServiceNow from $1,250.00 to $1,100.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Citigroup reduced their price objective on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Guggenheim reiterated a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a report on Wednesday. Finally, Mizuho decreased their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,057.17.

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.