UniSuper Management Pty Ltd Has $81.41 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

UniSuper Management Pty Ltd increased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 27.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,790 shares of the information technology services provider’s stock after buying an additional 16,498 shares during the period. ServiceNow accounts for approximately 0.6% of UniSuper Management Pty Ltd’s holdings, making the stock its 29th biggest holding. UniSuper Management Pty Ltd’s holdings in ServiceNow were worth $81,407,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. United Bank bought a new position in ServiceNow in the 3rd quarter worth approximately $480,000. Larson Financial Group LLC increased its stake in shares of ServiceNow by 48.6% in the 3rd quarter. Larson Financial Group LLC now owns 410 shares of the information technology services provider’s stock valued at $367,000 after buying an additional 134 shares during the period. Loomis Sayles & Co. L P raised its position in shares of ServiceNow by 8.0% during the third quarter. Loomis Sayles & Co. L P now owns 1,277 shares of the information technology services provider’s stock worth $1,142,000 after acquiring an additional 95 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of ServiceNow by 104.6% during the third quarter. Brown Brothers Harriman & Co. now owns 1,113 shares of the information technology services provider’s stock valued at $995,000 after acquiring an additional 569 shares during the period. Finally, Truvestments Capital LLC bought a new position in ServiceNow in the third quarter valued at about $30,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Price Performance

NYSE NOW opened at $838.54 on Thursday. The firm’s 50 day moving average is $960.38 and its 200-day moving average is $984.72. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $172.74 billion, a PE ratio of 122.77, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 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 fiscal year.

ServiceNow declared that its Board of Directors has authorized a share repurchase program 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup cut their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Jefferies Financial Group dropped their price target on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Royal Bank of Canada set a $986.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. KeyCorp cut shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $1,275.00 price target on shares of ServiceNow in a research report on Tuesday, March 11th. One investment 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 stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,093.76.

Insider Activity at ServiceNow

In other news, 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 owns 3,027 shares in the company, valued at $3,204,200.58. This represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This represents a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,351 shares of company stock valued at $20,050,076. Insiders own 0.25% of the company’s stock.

ServiceNow 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.