Natixis Advisors LLC Has $326.48 Million Position in ServiceNow, Inc. (NYSE:NOW)

Natixis Advisors LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 2.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 307,965 shares of the information technology services provider’s stock after purchasing an additional 6,125 shares during the quarter. ServiceNow accounts for about 0.6% of Natixis Advisors LLC’s holdings, making the stock its 22nd biggest position. Natixis Advisors LLC’s holdings in ServiceNow were worth $326,480,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. World Investment Advisors LLC grew its holdings in ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after acquiring an additional 4,771,830 shares during the last quarter. Bank of Montreal Can raised its holdings in ServiceNow by 216.6% during the third quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after buying an additional 935,848 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock valued at $667,000 after purchasing an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in ServiceNow during the fourth quarter worth about $682,468,000. Finally, Wellington Management Group LLP boosted its position in ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the period. 87.18% of the stock is owned by institutional investors.

Insider Activity

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. This represents a 28.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 in the last quarter. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NOW. Raymond James assumed coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 target price on the stock. Oppenheimer boosted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Guggenheim reissued a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a research report on Wednesday, January 22nd. Scotiabank started coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $1,230.00 price target for the company. Finally, William Blair reiterated an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,114.24.

ServiceNow Trading Up 4.2 %

Shares of NYSE:NOW opened at $845.75 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 market cap of $174.22 billion, a P/E ratio of 123.83, a P/E/G ratio of 4.51 and a beta of 1.03. The stock’s 50-day moving average is $992.95 and its 200-day moving average is $983.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last posted its 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 net margin of 12.97% and a return on equity of 17.11%. Equities research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has authorized a share repurchase program 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 buy up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.