3,523 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Teza Capital Management LLC

Teza Capital Management LLC bought a new position in ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, Holdings Channel reports. The fund bought 3,523 shares of the information technology services provider’s stock, valued at approximately $3,735,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOW. Quarry LP purchased a new stake in shares of ServiceNow during the fourth quarter worth about $27,000. Atala Financial Inc purchased a new stake in shares of ServiceNow during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of ServiceNow during the fourth quarter worth about $32,000. FPC Investment Advisory Inc. grew its position in shares of ServiceNow by 725.0% during the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC purchased a new position in ServiceNow during the 4th quarter valued at approximately $34,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Price Performance

Shares of NOW stock opened at $1,040.22 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 debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $215.33 billion, a P/E ratio of 152.30, a P/E/G ratio of 4.51 and a beta of 0.97. The stock has a 50 day moving average price of $863.52 and a 200 day moving average price of $973.27.

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

ServiceNow announced that its Board of Directors has authorized a share buyback plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NOW shares. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Scotiabank set a $1,100.00 price target on ServiceNow and gave the company an “outperform” rating in a report on Wednesday, May 7th. Bank of America cut their price target on ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Erste Group Bank upgraded ServiceNow from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. cut their price target on ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,062.50.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Russell S. Elmer sold 1,023 shares of ServiceNow stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $988.00, for a total value of $1,010,724.00. Following the sale, the general counsel now directly owns 4,332 shares of the company’s stock, valued at approximately $4,280,016. This trade represents a 19.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,872 shares of company stock valued at $13,261,400 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.

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.