ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. raised its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,964 shares of the information technology services provider’s stock after acquiring an additional 169 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in ServiceNow were worth $17,984,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new stake in ServiceNow during the 4th quarter worth about $27,000. Atala Financial Inc purchased a new stake in shares of ServiceNow during the 4th quarter worth about $28,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of ServiceNow during the 4th quarter worth about $32,000. FPC Investment Advisory Inc. grew its holdings 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 worth $34,000 after purchasing an additional 29 shares during the period. Finally, Noble Wealth Management PBC acquired a new stake in ServiceNow in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

Insider Buying and Selling at ServiceNow

In related news, Director Jeffrey A. Miller sold 2,282 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $1,030.64, for a total transaction of $2,351,920.48. Following the completion of the transaction, the director now owns 40,638 shares of the company’s stock, valued at approximately $41,883,148.32. The trade was a 5.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the business’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total value of $284,831.94. Following the transaction, the insider now directly owns 3,027 shares of the company’s stock, valued at $2,435,554.47. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,618 shares of company stock worth $21,132,878 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

ServiceNow Stock Performance

Shares of ServiceNow stock opened at $955.02 on Thursday. The stock has a market cap of $197.69 billion, a PE ratio of 139.83, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. The business has a fifty day simple moving average of $837.53 and a 200-day simple moving average of $967.60. The company has a quick ratio of 1.10, a current 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.

ServiceNow (NYSE:NOW) last issued its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping the consensus estimate of $3.78 by $0.26. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. ServiceNow’s revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.41 earnings per share. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has authorized a stock repurchase program 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. Stifel Nicolaus set a $975.00 price target on shares of ServiceNow and gave the stock a “buy” rating in a research note on Thursday, April 24th. UBS Group reissued a “buy” rating and set a $1,025.00 price objective (up from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. Canaccord Genuity Group decreased their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Barclays set a $969.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $1,048.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,032.94.

About ServiceNow

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.