487 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by Banque Pictet & Cie SA

Banque Pictet & Cie SA acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 487 shares of the information technology services provider’s stock, valued at approximately $516,000.

Other institutional investors have also made changes to their positions in the company. State Street Corp grew its stake in ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after acquiring an additional 226,023 shares during the period. FMR LLC boosted its position in shares of ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after buying an additional 502,845 shares during the period. World Investment Advisors LLC boosted its position in shares of ServiceNow by 499,668.1% during the third 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 buying an additional 4,771,830 shares during the period. Geode Capital Management LLC boosted its position in shares of ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after buying an additional 78,378 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of 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 buying an additional 615,797 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a research report on Thursday, January 30th. Stifel Nicolaus upped their price objective on ServiceNow from $900.00 to $990.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Guggenheim reaffirmed a “sell” rating and set a $716.00 price objective on shares of ServiceNow in a research report on Wednesday, January 22nd. Barclays upped their target price on ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group upped their target price on ServiceNow from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.72.

Insider Buying and Selling

In related news, Director Larry Quinlan sold 415 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $1,010.46, for a total transaction of $419,340.90. Following the sale, the director now owns 1,322 shares of the company’s stock, valued at $1,335,828.12. This represents a 23.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares in the company, valued at $11,710,600. This represents a 16.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,257 shares of company stock valued at $23,579,376 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

ServiceNow Price Performance

ServiceNow stock opened at $985.67 on Friday. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock’s 50 day moving average is $1,070.53 and its 200-day moving average is $971.00. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $203.05 billion, a price-to-earnings ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99.

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

ServiceNow announced that its Board of Directors has authorized a share buyback plan 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 buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is 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.