Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Invests $5.70 Million in ServiceNow, Inc. (NYSE:NOW)

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,379 shares of the information technology services provider’s stock, valued at approximately $5,702,000.

A number of other hedge funds have also modified their holdings of NOW. Quarry LP acquired a new position in ServiceNow during the fourth quarter worth $27,000. Atala Financial Inc acquired a new position in ServiceNow during the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA acquired a new position in ServiceNow during the fourth quarter worth $32,000. FPC Investment Advisory Inc. grew its position in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $34,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the company’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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction on 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 sale, the insider now owns 3,649 shares of the company’s stock, valued at $3,370,654.28. The trade was a 44.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,061 shares of company stock worth $9,515,766. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

NOW has been the topic of several research analyst reports. Evercore ISI raised their price target on ServiceNow from $925.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Morgan Stanley raised their price target on ServiceNow from $881.00 to $950.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Mizuho reduced their target price on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Barclays set a $1,085.00 target price on shares of ServiceNow in a research note on Wednesday, May 7th. Finally, Jefferies Financial Group reduced their target price on shares of ServiceNow from $1,250.00 to $1,025.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.50.

ServiceNow Stock Performance

NOW stock opened at $1,025.55 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. The company has a 50 day moving average price of $867.15 and a 200 day moving average price of $974.13. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The stock has a market capitalization of $212.29 billion, a PE ratio of 150.15, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. ServiceNow’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.41 EPS. Analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

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.