Anomaly Capital Management LP Purchases Shares of 44,390 ServiceNow, Inc. (NYSE:NOW)

Anomaly Capital Management LP acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 44,390 shares of the information technology services provider’s stock, valued at approximately $47,059,000. ServiceNow makes up approximately 1.4% of Anomaly Capital Management LP’s holdings, making the stock its 25th biggest position.

Other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of ServiceNow during the 3rd quarter worth approximately $9,833,000. Anchor Investment Management LLC raised its holdings in shares of ServiceNow by 6.1% in the 3rd quarter. Anchor Investment Management LLC now owns 1,364 shares of the information technology services provider’s stock valued at $1,220,000 after purchasing an additional 78 shares during the period. Stock Yards Bank & Trust Co. acquired a new stake in ServiceNow in the 3rd quarter valued at about $202,000. World Investment Advisors LLC increased its position in ServiceNow by 585.8% during the third quarter. World Investment Advisors LLC now owns 6,549 shares of the information technology services provider’s stock worth $5,857,000 after buying an additional 5,594 shares during the last quarter. Finally, Sfmg LLC bought a new stake in ServiceNow in the third quarter valued at approximately $226,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $757.13 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The business has a 50-day simple moving average of $848.45 and a 200 day simple moving average of $969.57. The firm has a market capitalization of $156.73 billion, a price-to-earnings ratio of 110.85, a PEG ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 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%. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total transaction of $284,831.94. Following the sale, the insider now owns 3,027 shares in the company, valued at $2,435,554.47. The trade was a 10.47 % 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 worth $19,853,273 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NOW shares. William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Bank of America cut their price objective 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. Jefferies Financial Group lowered their price objective on ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. UBS Group lowered their price target on shares of ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Finally, Robert W. Baird dropped their price target on shares of ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,056.07.

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.