Pictet Asset Management Holding SA Acquires 489 Shares of ServiceNow, Inc. (NYSE:NOW)

Pictet Asset Management Holding SA raised its stake in ServiceNow, Inc. (NYSE:NOW) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,996 shares of the information technology services provider’s stock after buying an additional 489 shares during the period. Pictet Asset Management Holding SA owned about 0.09% of ServiceNow worth $195,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of NOW. United Bank purchased a new stake in shares of ServiceNow in the 3rd quarter worth $480,000. Truvestments Capital LLC bought a new position in ServiceNow during the 3rd quarter worth about $30,000. Freedom Investment Management Inc. increased its position in ServiceNow by 72.9% during the 3rd quarter. Freedom Investment Management Inc. now owns 740 shares of the information technology services provider’s stock valued at $662,000 after purchasing an additional 312 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of ServiceNow in the 3rd quarter valued at about $1,071,000. Finally, Fiduciary Trust Co lifted its position in shares of ServiceNow by 23.2% in the 3rd quarter. Fiduciary Trust Co now owns 5,557 shares of the information technology services provider’s stock worth $4,970,000 after purchasing an additional 1,047 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $1,275.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Oppenheimer lifted their target price on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, UBS Group reduced their price objective on shares of ServiceNow from $1,250.00 to $1,000.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,093.76.

ServiceNow Stock Performance

Shares of NOW stock opened at $796.61 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 quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a market cap of $164.10 billion, a PE ratio of 116.63, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. The business has a 50-day simple moving average of $950.30 and a 200-day simple moving average of $983.23.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results 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%. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has initiated a share repurchase plan on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 $10,733,252.20. This trade represents 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 in the last three months. Company insiders own 0.25% of the company’s stock.

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.