ServiceNow, Inc. (NYSE:NOW) Shares Bought by Optimum Investment Advisors

Optimum Investment Advisors increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 43.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 250 shares of the information technology services provider’s stock after buying an additional 76 shares during the period. Optimum Investment Advisors’ holdings in ServiceNow were worth $265,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Polymer Capital Management HK LTD boosted its position in ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider’s stock valued at $2,416,000 after buying an additional 981 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of ServiceNow during the 4th quarter worth about $48,802,000. Dock Street Asset Management Inc. increased its holdings in shares of ServiceNow by 3.4% in the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock valued at $35,147,000 after acquiring an additional 1,105 shares during the last quarter. Cardano Risk Management B.V. acquired a new stake in shares of ServiceNow during the 4th quarter worth about $105,090,000. Finally, Rheos Capital Works Inc. purchased a new stake in ServiceNow during the fourth quarter worth approximately $10,071,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock worth $20,050,076 over the last ninety days. 0.25% of the stock is owned by company insiders.

ServiceNow Price Performance

Shares of ServiceNow stock opened at $827.92 on Friday. The business’s fifty day moving average price is $971.31 and its 200 day moving average price is $984.34. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $170.55 billion, a P/E ratio of 121.22, a PEG ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last released its quarterly earnings data 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 return on equity of 17.11% and a net margin of 12.97%. As a group, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has initiated a share repurchase plan 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 reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. Wells Fargo & Company boosted their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Mizuho cut their target price on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Guggenheim reiterated a “sell” rating and set a $716.00 price target on shares of ServiceNow in a research note on Wednesday, January 22nd. Finally, Scotiabank dropped their price objective on shares of ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,100.31.

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.