Aware Super Pty Ltd as trustee of Aware Super Takes Position in ServiceNow, Inc. (NYSE:NOW)

Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 24,659 shares of the information technology services provider’s stock, valued at approximately $26,141,000.

Several other institutional investors also recently bought and sold shares of NOW. Canada Post Corp Registered Pension Plan acquired a new stake in ServiceNow in the fourth quarter valued at approximately $3,472,000. XTX Topco Ltd boosted its position in shares of ServiceNow by 36.3% in the 4th quarter. XTX Topco Ltd now owns 2,447 shares of the information technology services provider’s stock worth $2,594,000 after purchasing an additional 652 shares in the last quarter. Icon Advisers Inc. Co. acquired a new stake in shares of ServiceNow in the 4th quarter worth $3,736,000. Belpointe Asset Management LLC grew its stake in ServiceNow by 10.2% during the 4th quarter. Belpointe Asset Management LLC now owns 3,508 shares of the information technology services provider’s stock worth $3,719,000 after buying an additional 324 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its position in ServiceNow by 20.5% during the 4th quarter. CreativeOne Wealth LLC now owns 1,443 shares of the information technology services provider’s stock valued at $1,530,000 after buying an additional 245 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of the business’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 value of $481,635.70. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the transaction, the chief financial officer now owns 11,126 shares of the company’s stock, valued at approximately $10,733,252.20. This represents a 28.53 % 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 worth $20,050,076. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Mizuho dropped their price target on ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada set a $986.00 target price on shares of ServiceNow in a research report on Tuesday, March 11th. Raymond James decreased their price target on shares of ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. Jefferies Financial Group dropped their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Finally, JMP Securities restated a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $1,073.93.

ServiceNow Price Performance

Shares of NYSE NOW opened at $785.78 on Monday. 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 firm has a fifty day moving average of $875.51 and a 200 day moving average of $973.89. The firm has a market cap of $162.66 billion, a PE ratio of 115.05, a PEG ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting 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, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has initiated a stock buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.