Fullerton Fund Management Co Ltd. Buys 170 Shares of ServiceNow, Inc. (NYSE:NOW)

Fullerton Fund Management Co Ltd. increased its stake in ServiceNow, Inc. (NYSE:NOW) by 35.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 654 shares of the information technology services provider’s stock after acquiring an additional 170 shares during the period. Fullerton Fund Management Co Ltd.’s holdings in ServiceNow were worth $693,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in ServiceNow in the fourth quarter worth about $2,603,360,000. Proficio Capital Partners LLC raised its stake in shares of ServiceNow by 154,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider’s stock worth $667,000 after buying an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in ServiceNow in the fourth quarter valued at approximately $682,468,000. Price T Rowe Associates Inc. MD boosted its stake in ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider’s stock valued at $8,434,235,000 after acquiring an additional 509,467 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in ServiceNow by 36.7% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider’s stock worth $1,940,464,000 after acquiring an additional 491,861 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Trading Up 0.7 %

Shares of NYSE:NOW opened at $981.13 on Friday. 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 capitalization of $203.09 billion, a P/E ratio of 143.65, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The company has a 50-day simple moving average of $844.85 and a 200 day simple moving average of $970.05.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period last year, the firm posted $3.41 earnings per share. Sell-side analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NOW. Oppenheimer reiterated an “outperform” rating and issued a $1,100.00 price objective (up previously from $970.00) on shares of ServiceNow in a report on Tuesday. Guggenheim lifted their price objective on shares of ServiceNow from $716.00 to $724.00 and gave the stock a “sell” rating in a research note on Thursday, April 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,050.00 target price on shares of ServiceNow in a research note on Tuesday. Scotiabank set a $1,100.00 price target on shares of ServiceNow and gave the company an “outperform” rating in a report on Wednesday. Finally, William Blair reaffirmed an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,048.55.

Insiders Place Their Bets

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow 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 owns 3,649 shares of the company’s stock, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the completion of the transaction, the chief executive officer now owns 2,595 shares in the company, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,150 shares of company stock valued at $16,550,424 over the last ninety days. 0.38% of the stock is currently owned by company 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.