ServiceNow, Inc. (NYSE:NOW) Shares Bought by Versor Investments LP

Versor Investments LP raised its stake in ServiceNow, Inc. (NYSE:NOW) by 289.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,167 shares of the information technology services provider’s stock after acquiring an additional 867 shares during the period. Versor Investments LP’s holdings in ServiceNow were worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in shares of ServiceNow during the third quarter worth about $30,000. FPC Investment Advisory Inc. boosted its stake 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 buying an additional 29 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth about $37,000. Stonebridge Financial Group LLC acquired a new stake in shares of ServiceNow during the fourth quarter worth about $37,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of ServiceNow during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 2.3 %

NOW stock opened at $920.73 on Friday. The stock has a market capitalization of $189.67 billion, a P/E ratio of 134.81, a PEG ratio of 4.51 and a beta of 0.99. 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, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a 50 day moving average price of $1,041.30 and a two-hundred day moving average price of $980.81.

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 analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has authorized a stock buyback 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 reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

NOW has been the subject of several recent research reports. KeyCorp downgraded shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Raymond James began coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price objective for the company. Guggenheim restated a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a research report on Wednesday, January 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $1,210.00 price objective on shares of ServiceNow in a research report on Thursday, January 30th. Finally, Redburn Atlantic began coverage on shares of ServiceNow in a research report on Wednesday, February 19th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Buying and Selling at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow 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 transaction, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock worth $20,050,076 in the last quarter. 0.25% of the stock is owned by insiders.

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.