ServiceNow, Inc. (NYSE:NOW) Shares Sold by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. trimmed its position in ServiceNow, Inc. (NYSE:NOW) by 8.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,860 shares of the information technology services provider’s stock after selling 1,200 shares during the quarter. ServiceNow comprises 1.3% of China Universal Asset Management Co. Ltd.’s investment portfolio, making the stock its 16th biggest position. China Universal Asset Management Co. Ltd.’s holdings in ServiceNow were worth $13,633,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NOW. World Investment Advisors LLC boosted its stake in ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after buying an additional 4,771,830 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of ServiceNow by 89,137.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider’s stock worth $1,059,912,000 after acquiring an additional 1,183,739 shares during the last quarter. Bank of Montreal Can boosted its position in shares of ServiceNow by 216.6% during the 3rd quarter. Bank of Montreal Can now owns 1,367,875 shares of the information technology services provider’s stock worth $1,206,178,000 after purchasing an additional 935,848 shares during the period. Wellington Management Group LLP increased its holdings in ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock valued at $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. Finally, FMR LLC raised its position in ServiceNow by 9.9% in the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock valued at $5,014,302,000 after purchasing an additional 502,845 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Up 0.7 %

NOW opened at $1,020.17 on Friday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $210.16 billion, a P/E ratio of 149.37, a price-to-earnings-growth ratio of 5.19 and a beta of 0.99. The business’s 50-day simple moving average is $1,083.66 and its 200-day simple moving average is $954.46.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.56% and a net margin of 12.97%. Analysts anticipate that ServiceNow, Inc. will post 8.98 EPS for the current year.

ServiceNow declared that its board has authorized a share buyback program 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NOW. Oppenheimer lifted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday. StockNews.com lowered shares of ServiceNow from a “buy” rating to a “hold” rating in a research note on Friday. Guggenheim reissued a “sell” rating and issued a $716.00 price objective on shares of ServiceNow in a research note on Wednesday, January 22nd. UBS Group upped their target price on shares of ServiceNow from $900.00 to $1,055.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Raymond James started coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.93.

Insider Activity at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 76 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1,010.94, for a total value of $76,831.44. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. The trade was a 2.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the completion of the sale, the chief executive officer now owns 2,595 shares of the company’s stock, valued at $2,588,953.65. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,731 shares of company stock worth $21,016,751 in the last 90 days. 0.25% of the stock is owned by insiders.

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.