Generali Investments CEE investicni spolecnost a.s. Invests $954,000 in ServiceNow, Inc. (NYSE:NOW)

Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, Holdings Channel.com reports. The fund bought 900 shares of the information technology services provider’s stock, valued at approximately $954,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. M&G PLC grew its stake in ServiceNow by 34.5% during the third quarter. M&G PLC now owns 6,492 shares of the information technology services provider’s stock worth $5,804,000 after purchasing an additional 1,666 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of ServiceNow during the 3rd quarter worth approximately $83,000. Hollencrest Capital Management increased its stake in shares of ServiceNow by 19.2% in the 3rd quarter. Hollencrest Capital Management now owns 199 shares of the information technology services provider’s stock valued at $178,000 after acquiring an additional 32 shares in the last quarter. Fiera Capital Corp lifted its position in shares of ServiceNow by 17.8% during the 3rd quarter. Fiera Capital Corp now owns 4,062 shares of the information technology services provider’s stock valued at $3,633,000 after acquiring an additional 613 shares during the period. Finally, Equitable Trust Co. boosted its stake in ServiceNow by 0.4% during the third quarter. Equitable Trust Co. now owns 4,959 shares of the information technology services provider’s stock worth $4,435,000 after acquiring an additional 19 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Russell S. Elmer sold 336 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $341,896.80. Following the sale, the general counsel now directly owns 4,332 shares in the company, valued at $4,408,026.60. The trade was a 7.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock worth $20,050,076 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NOW. Needham & Company LLC upped their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Oppenheimer upped their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Truist Financial boosted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Thursday, December 12th. StockNews.com cut ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Finally, KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,129.72.

ServiceNow Price Performance

ServiceNow stock opened at $850.54 on Friday. 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 business’s 50 day simple moving average is $1,017.44 and its 200 day simple moving average is $984.89. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a market cap of $175.21 billion, a price-to-earnings ratio of 124.53, a PEG ratio of 4.51 and a beta of 1.03.

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

ServiceNow announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is 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.