2,874 Shares in ServiceNow, Inc. (NYSE:NOW) Acquired by Central Asset Investments & Management Holdings HK Ltd

Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of ServiceNow, Inc. (NYSE:NOW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,874 shares of the information technology services provider’s stock, valued at approximately $3,047,000. ServiceNow makes up 1.9% of Central Asset Investments & Management Holdings HK Ltd’s holdings, making the stock its 13th largest holding.

Other institutional investors also recently made changes to their positions in the company. New York Life Investment Management LLC lifted its stake in shares of ServiceNow by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 30,645 shares of the information technology services provider’s stock worth $32,487,000 after purchasing an additional 114 shares during the period. Harfst & Associates Inc. boosted its position in shares of ServiceNow by 31.9% in the fourth quarter. Harfst & Associates Inc. now owns 3,486 shares of the information technology services provider’s stock worth $3,696,000 after acquiring an additional 844 shares during the last quarter. Lineweaver Wealth Advisors LLC grew its holdings in ServiceNow by 11.6% in the fourth quarter. Lineweaver Wealth Advisors LLC now owns 2,104 shares of the information technology services provider’s stock valued at $2,232,000 after purchasing an additional 219 shares during the period. Convergence Financial LLC raised its stake in ServiceNow by 1.3% during the fourth quarter. Convergence Financial LLC now owns 2,029 shares of the information technology services provider’s stock worth $2,151,000 after purchasing an additional 27 shares during the period. Finally, Whipplewood Advisors LLC acquired a new position in shares of ServiceNow in the 4th quarter valued at $269,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were 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 owns 11,126 shares in the company, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 300 shares of ServiceNow stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,047.95, for a total value of $314,385.00. Following the sale, the director now directly owns 10,467 shares in the company, valued at $10,968,892.65. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,706 shares of company stock worth $17,644,106. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on NOW shares. Truist Financial upped their price target on ServiceNow from $900.00 to $1,100.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Needham & Company LLC increased their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price objective on shares of ServiceNow in a research report on Thursday, January 30th. Scotiabank initiated coverage on ServiceNow in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $1,230.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $1,210.00 price objective on shares of ServiceNow in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow Price Performance

NOW opened at $941.79 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $1,044.39 and its 200 day moving average price is $981.23. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The firm has a market cap of $194.01 billion, a price-to-earnings ratio of 137.89, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99.

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

ServiceNow announced that its Board of Directors has authorized a stock buyback 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 reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.