Mirova Buys 149 Shares of ServiceNow, Inc. (NYSE:NOW)

Mirova lifted its holdings in ServiceNow, Inc. (NYSE:NOW) by 2.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,748 shares of the information technology services provider’s stock after acquiring an additional 149 shares during the quarter. ServiceNow comprises approximately 1.1% of Mirova’s holdings, making the stock its 22nd biggest position. Mirova’s holdings in ServiceNow were worth $6,094,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atala Financial Inc purchased a new position in ServiceNow in the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the fourth quarter valued at $32,000. Noble Wealth Management PBC bought a new stake in shares of ServiceNow during the fourth quarter valued at about $34,000. FPC Investment Advisory Inc. lifted its stake in ServiceNow by 725.0% in the 4th 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. Finally, Heck Capital Advisors LLC purchased a new stake in shares of ServiceNow in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 3.1 %

Shares of NYSE NOW opened at $772.18 on Friday. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a market cap of $159.84 billion, a PE ratio of 113.06, a P/E/G ratio of 4.51 and a beta of 1.08. The firm’s 50 day moving average price is $852.94 and its 200-day moving average price is $970.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

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

ServiceNow announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits 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 board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NOW shares. Bank of America dropped their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald restated an “overweight” rating and set a $1,048.00 price target on shares of ServiceNow in a research report on Wednesday. Truist Financial lowered 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, March 31st. UBS Group cut their target price on shares of ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Finally, William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company. According to MarketBeat, ServiceNow presently has an average rating of “Moderate Buy” and an average target price of $1,057.17.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the 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 completion of the transaction, the chief financial officer now owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This represents a 28.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 354 shares of ServiceNow stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $2,435,554.47. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,250 shares of company stock worth $19,853,273. 0.38% of the stock is owned by corporate 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.