BIT Capital GmbH Sells 34 Shares of ServiceNow, Inc. (NYSE:NOW)

BIT Capital GmbH trimmed its stake in ServiceNow, Inc. (NYSE:NOW) by 13.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 222 shares of the information technology services provider’s stock after selling 34 shares during the quarter. BIT Capital GmbH’s holdings in ServiceNow were worth $235,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NOW. UniSuper Management Pty Ltd grew its position in ServiceNow by 27.4% during the 4th quarter. UniSuper Management Pty Ltd now owns 76,790 shares of the information technology services provider’s stock valued at $81,407,000 after purchasing an additional 16,498 shares during the last quarter. Sava Infond d.o.o. bought a new position in shares of ServiceNow in the fourth quarter worth approximately $25,734,000. WINTON GROUP Ltd purchased a new stake in shares of ServiceNow during the fourth quarter valued at approximately $269,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of ServiceNow by 7.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,416 shares of the information technology services provider’s stock valued at $396,668,000 after acquiring an additional 25,569 shares in the last quarter. Finally, Cottage Street Advisors LLC purchased a new position in ServiceNow in the 4th quarter worth approximately $201,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Gina Mastantuono sold 4,442 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,370,654.28. This represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,351 shares of company stock worth $20,050,076 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on NOW shares. KeyCorp lowered ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,048.00 price objective on shares of ServiceNow in a research report on Tuesday, March 11th. Robert W. Baird decreased their target price on ServiceNow from $1,200.00 to $1,010.00 and set an “outperform” rating for the company in a research report on Wednesday. Scotiabank dropped their price target 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, William Blair reissued an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,093.76.

ServiceNow Stock Down 2.7 %

Shares of NOW opened at $838.54 on Thursday. The business’s 50 day moving average is $960.38 and its 200 day moving average is $984.72. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The company has a market capitalization of $172.74 billion, a PE ratio of 122.77, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03.

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

ServiceNow declared that its board has approved a stock buyback plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

ServiceNow Company 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.