53,347 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Raiffeisen Bank International AG

Raiffeisen Bank International AG purchased a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 53,347 shares of the information technology services provider’s stock, valued at approximately $56,959,000. ServiceNow makes up about 0.9% of Raiffeisen Bank International AG’s investment portfolio, making the stock its 29th biggest position.

A number of other hedge funds have also modified their holdings of the company. Cooper Financial Group bought a new stake in ServiceNow during the fourth quarter valued at about $218,000. AdvisorNet Financial Inc boosted its stake in shares of ServiceNow by 34.4% in the fourth quarter. AdvisorNet Financial Inc now owns 129 shares of the information technology services provider’s stock worth $137,000 after acquiring an additional 33 shares during the period. Mayfair Advisory Group LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth about $215,000. Pines Wealth Management LLC bought a new stake in ServiceNow during the 4th quarter valued at approximately $497,000. Finally, Oak Thistle LLC purchased a new position in ServiceNow in the 4th quarter worth approximately $217,000. 87.18% of the stock is currently owned by institutional investors.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow 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 completion of the transaction, the insider now directly 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. Insiders have sold 15,056 shares of company stock worth $14,421,814 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NOW has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of ServiceNow from $975.00 to $1,050.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Barclays set a $1,085.00 target price on shares of ServiceNow in a research note on Wednesday, May 7th. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. Finally, Erste Group Bank raised ServiceNow from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 30th. One 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,062.50.

ServiceNow Trading Down 0.7%

Shares of ServiceNow stock opened at $1,029.76 on Thursday. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The firm’s 50 day simple moving average is $853.85 and its two-hundred day simple moving average is $971.90. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $213.16 billion, a price-to-earnings ratio of 150.77, a PEG ratio of 4.51 and a beta of 0.97.

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

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