ServiceNow, Inc. (NYSE:NOW) Holdings Boosted by Intact Investment Management Inc.

Intact Investment Management Inc. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 14.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,900 shares of the information technology services provider’s stock after purchasing an additional 240 shares during the period. Intact Investment Management Inc.’s holdings in ServiceNow were worth $2,014,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atala Financial Inc purchased a new position in ServiceNow during the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA purchased a new position in ServiceNow during the 4th quarter worth approximately $32,000. Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the 4th quarter valued at $34,000. Truvestments Capital LLC acquired a new stake in shares of ServiceNow during the 3rd quarter valued at $30,000. Finally, FPC Investment Advisory Inc. boosted its stake in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after buying an additional 29 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $1,048.00 target price on shares of ServiceNow in a research note on Tuesday. Canaccord Genuity Group reissued a “buy” rating and set a $1,275.00 target price on shares of ServiceNow in a research note on Tuesday. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Redburn Atlantic began coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Finally, TD Cowen lifted their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,114.24.

Insider Transactions at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 11,126 shares of the company’s stock, valued at $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Performance

NYSE:NOW opened at $845.75 on Friday. The firm’s 50-day moving average is $992.95 and its 200-day moving average is $983.44. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. 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 company has a market cap of $174.22 billion, a price-to-earnings ratio of 123.83, a PEG ratio of 4.51 and a beta of 1.03.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board 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 usually an indication that the company’s leadership 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.