WINTON GROUP Ltd Takes $269,000 Position in ServiceNow, Inc. (NYSE:NOW)

WINTON GROUP Ltd acquired a new stake in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 254 shares of the information technology services provider’s stock, valued at approximately $269,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of ServiceNow by 7.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,416 shares of the information technology services provider’s stock worth $396,668,000 after buying an additional 25,569 shares in the last quarter. Cottage Street Advisors LLC purchased a new position in ServiceNow in the fourth quarter worth $201,000. Arlington Capital Management Inc. acquired a new stake in ServiceNow in the fourth quarter valued at $201,000. Banco BTG Pactual S.A. purchased a new stake in shares of ServiceNow during the 4th quarter worth $430,000. Finally, Ausdal Financial Partners Inc. grew its stake in shares of ServiceNow by 5.8% during the 4th quarter. Ausdal Financial Partners Inc. now owns 671 shares of the information technology services provider’s stock worth $711,000 after purchasing an additional 37 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NOW opened at $796.61 on Monday. 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 quick ratio of 1.10 and a current ratio of 1.10. The company’s 50 day simple moving average is $950.30 and its 200 day simple moving average is $984.86. The stock has a market capitalization of $164.10 billion, a PE ratio of 116.63, a P/E/G ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has authorized a share buyback program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at ServiceNow

In related 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 directly owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the transaction, the insider now 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 in the last three months. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NOW shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $1,275.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $1,048.00 price target on shares of ServiceNow in a research report on Tuesday, March 11th. William Blair restated an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Redburn Atlantic started coverage on ServiceNow in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, Robert W. Baird decreased their target price on ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,093.76.

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.