2,433 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by Allianz SE

Allianz SE acquired a new position in ServiceNow, Inc. (NYSE:NOW) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,433 shares of the information technology services provider’s stock, valued at approximately $2,598,000.

Several other institutional investors also recently modified their holdings of the company. Atala Financial Inc bought a new position in ServiceNow in the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA bought a new position in shares of ServiceNow during the 4th quarter worth about $32,000. FPC Investment Advisory Inc. boosted its position in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. Noble Wealth Management PBC bought a new stake in ServiceNow in the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC bought a new position in ServiceNow during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Down 3.8 %

Shares of NYSE NOW opened at $796.61 on Friday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The firm’s 50-day moving average is $950.30 and its 200-day moving average is $984.09. 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 firm has a market capitalization of $164.10 billion, a PE ratio of 116.63, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

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%. Equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a stock buyback 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 buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

NOW has been the topic of several analyst reports. Wells Fargo & Company upped their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. TD Cowen upped their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird cut their price objective on ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating for the company in a report on Wednesday. Scotiabank lowered their target price on shares of ServiceNow from $1,230.00 to $1,050.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Finally, The Goldman Sachs Group increased their target price on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, ServiceNow currently has an average rating of “Moderate Buy” and a consensus price target of $1,093.76.

Insider Buying and Selling

In other news, insider Jacqueline P. Canney sold 292 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,080,123.85. The trade was a 8.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction that occurred 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 sale, the insider now owns 3,649 shares in the company, 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. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 over the last three months. Company 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.