Janus Henderson Group PLC Acquires 12,533 Shares of ServiceNow, Inc. (NYSE:NOW)

Janus Henderson Group PLC lifted its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 824,725 shares of the information technology services provider’s stock after purchasing an additional 12,533 shares during the period. Janus Henderson Group PLC’s holdings in ServiceNow were worth $874,258,000 at the end of the most recent reporting period.

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

ServiceNow Stock Performance

NOW opened at $981.13 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $203.09 billion, a price-to-earnings ratio of 143.65, a P/E/G ratio of 4.51 and a beta of 0.97. The business’s 50-day moving average price is $844.85 and its two-hundred day moving average price is $970.48. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for 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 quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.41 EPS. Equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a share 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 repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 1,263 shares of the 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 directly owns 2,595 shares in the company, valued at $2,644,564.50. This represents a 32.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the sale, the insider now owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,150 shares of company stock valued at $16,550,424. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NOW shares. William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. JMP Securities reissued a “market outperform” rating and set a $1,300.00 price objective on shares of ServiceNow in a report on Tuesday, May 6th. The Goldman Sachs Group restated a “buy” rating on shares of ServiceNow in a research report on Thursday, April 24th. Evercore ISI lifted their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Citigroup increased their price objective on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,055.83.

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.