Aster Capital Management DIFC Ltd Acquires 1,249 Shares of ServiceNow, Inc. (NYSE:NOW)

Aster Capital Management DIFC Ltd grew its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 785.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,408 shares of the information technology services provider’s stock after buying an additional 1,249 shares during the quarter. ServiceNow accounts for approximately 0.6% of Aster Capital Management DIFC Ltd’s portfolio, making the stock its 26th largest holding. Aster Capital Management DIFC Ltd’s holdings in ServiceNow were worth $1,493,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Atala Financial Inc bought a new position in ServiceNow during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA bought a new position in shares of ServiceNow in the fourth quarter worth approximately $32,000. FPC Investment Advisory Inc. increased its stake in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock worth $34,000 after buying an additional 29 shares during the period. Noble Wealth Management PBC bought a new stake in ServiceNow during the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in ServiceNow during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Robert W. Baird lowered their price objective on shares of ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. Guggenheim reissued a “sell” rating and set a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Royal Bank of Canada set a $986.00 price target on ServiceNow in a research note on Tuesday, March 11th. Finally, Citigroup reduced their price objective on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,086.00.

ServiceNow Stock Down 6.9 %

NYSE:NOW opened at $720.69 on Friday. 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 cap of $148.46 billion, a P/E ratio of 105.52, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The firm has a 50-day simple moving average of $917.80 and a two-hundred day simple moving average of $980.64.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share 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%. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other news, 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 transaction of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business’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 transaction of $2,720,355.40. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,351 shares of company stock valued at $20,050,076. Corporate insiders own 0.25% 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.