BIT Capital GmbH Sells 34 Shares of ServiceNow, Inc. (NYSE:NOW)

BIT Capital GmbH lowered its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 13.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 222 shares of the information technology services provider’s stock after selling 34 shares during the quarter. BIT Capital GmbH’s holdings in ServiceNow were worth $235,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. UniSuper Management Pty Ltd increased its position in ServiceNow by 27.4% during the fourth quarter. UniSuper Management Pty Ltd now owns 76,790 shares of the information technology services provider’s stock valued at $81,407,000 after acquiring an additional 16,498 shares during the last quarter. Sava Infond d.o.o. bought a new stake in shares of ServiceNow in the 4th quarter worth about $25,734,000. WINTON GROUP Ltd purchased a new position in shares of ServiceNow during the 4th quarter worth about $269,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in 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 valued at $396,668,000 after purchasing an additional 25,569 shares during the last quarter. Finally, Cottage Street Advisors LLC purchased a new stake in ServiceNow in the 4th quarter worth about $201,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NOW. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. Scotiabank reduced their target price on ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Guggenheim reissued a “sell” rating and set a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $1,048.00 price target on shares of ServiceNow in a report on Tuesday, March 11th. Finally, Citigroup lowered their price objective on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,093.76.

Insider Transactions at ServiceNow

In other news, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,351 shares of company stock worth $20,050,076. Company insiders own 0.25% of the company’s stock.

ServiceNow Trading Down 2.7 %

Shares of NYSE:NOW opened at $838.54 on Thursday. The business’s 50-day moving average is $960.38 and its 200 day moving average is $984.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The firm has a market capitalization of $172.74 billion, a P/E ratio of 122.77, 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 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%. On average, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

About ServiceNow

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.