1,600 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by OPTIMAS CAPITAL Ltd

OPTIMAS CAPITAL Ltd purchased a new stake in ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,600 shares of the information technology services provider’s stock, valued at approximately $1,696,000. ServiceNow makes up 2.3% of OPTIMAS CAPITAL Ltd’s portfolio, making the stock its 20th largest holding.

Other large investors have also added to or reduced their stakes in the company. Polymer Capital Management HK LTD boosted its holdings in shares of ServiceNow by 57.0% during 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 in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of ServiceNow during the 4th quarter valued at $48,802,000. Dock Street Asset Management Inc. raised its position 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 worth $35,147,000 after purchasing an additional 1,105 shares during the last quarter. Cardano Risk Management B.V. purchased a new position in shares of ServiceNow in the 4th quarter worth about $105,090,000. Finally, Rheos Capital Works Inc. purchased a new position in shares of ServiceNow in the 4th quarter worth about $10,071,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Down 0.2 %

NOW stock opened at $843.03 on Tuesday. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. 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 business has a 50 day simple moving average of $988.28 and a two-hundred day simple moving average of $985.78. The company has a market capitalization of $173.66 billion, a price-to-earnings ratio of 123.43, a PEG ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Research 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 authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

NOW has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,048.00 price target on shares of ServiceNow in a research report on Tuesday, March 11th. TD Cowen boosted their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Raymond James began coverage on ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $1,210.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. Finally, Truist Financial boosted their target price on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average target price of $1,108.03.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 292 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock worth $20,050,076 over the last ninety days. Company insiders own 0.25% of the company’s stock.

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.