E. Ohman J or Asset Management AB Buys 890 Shares of ServiceNow, Inc. (NYSE:NOW)

E. Ohman J or Asset Management AB boosted its stake in ServiceNow, Inc. (NYSE:NOW) by 10.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,210 shares of the information technology services provider’s stock after buying an additional 890 shares during the period. E. Ohman J or Asset Management AB’s holdings in ServiceNow were worth $9,764,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Czech National Bank boosted its stake in ServiceNow by 7.4% in the 3rd quarter. Czech National Bank now owns 41,964 shares of the information technology services provider’s stock valued at $37,532,000 after purchasing an additional 2,900 shares during the period. GAMMA Investing LLC lifted its holdings in shares of ServiceNow by 51.0% during the third quarter. GAMMA Investing LLC now owns 2,659 shares of the information technology services provider’s stock worth $2,378,000 after buying an additional 898 shares in the last quarter. WealthBridge Capital Management LLC bought a new stake in shares of ServiceNow in the third quarter valued at about $221,000. Chemistry Wealth Management LLC acquired a new position in shares of ServiceNow in the third quarter valued at about $200,000. Finally, Consilio Wealth Advisors LLC acquired a new stake in ServiceNow in the 3rd quarter worth about $206,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 12,271 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total value of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares of the company’s stock, valued at approximately $2,588,953.65. The trade was a 82.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $1,048.29, for a total transaction of $69,187.14. Following the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,173,173.83. This trade represents a 2.13 % 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 over the last three months. 0.25% of the stock is owned by company insiders.

ServiceNow Stock Up 0.4 %

Shares of NOW opened at $1,021.99 on Tuesday. The stock’s 50-day moving average price is $1,083.66 and its two-hundred day moving average price is $957.36. 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 $210.53 billion, a PE ratio of 149.63, a PEG ratio of 4.74 and a beta of 0.99. 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 (NYSE:NOW) last announced its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, analysts anticipate that ServiceNow, Inc. will post 8.94 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NOW shares. Guggenheim reiterated a “sell” rating and issued a $716.00 price target on shares of ServiceNow in a research report on Wednesday, January 22nd. Raymond James began coverage on ServiceNow in a report on Tuesday, December 24th. They set an “outperform” rating and a $1,200.00 target price on the stock. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $900.00 to $960.00 in a research note on Monday, October 21st. Robert W. Baird cut their price objective on shares of ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Finally, JMP Securities reiterated a “market outperform” rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,129.93.

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.