Axa S.A. Sells 6,767 Shares of ServiceNow, Inc. (NYSE:NOW)

Axa S.A. cut its position in ServiceNow, Inc. (NYSE:NOW) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,039 shares of the information technology services provider’s stock after selling 6,767 shares during the quarter. ServiceNow comprises 1.0% of Axa S.A.’s investment portfolio, making the stock its 16th biggest position. Axa S.A. owned about 0.15% of ServiceNow worth $326,558,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA purchased a new position in shares of ServiceNow in the 4th quarter worth about $48,802,000. Dock Street Asset Management Inc. lifted its position in ServiceNow by 3.4% in the 4th quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock worth $35,147,000 after buying an additional 1,105 shares during the last quarter. Cardano Risk Management B.V. purchased a new stake in ServiceNow in the fourth quarter worth approximately $105,090,000. Rheos Capital Works Inc. purchased a new position in shares of ServiceNow during the fourth quarter worth approximately $10,071,000. Finally, Czech National Bank lifted its holdings in shares of ServiceNow by 6.7% in the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider’s stock worth $47,486,000 after acquiring an additional 2,829 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

ServiceNow Trading Up 2.0 %

Shares of NYSE NOW opened at $977.24 on Friday. The stock has a market cap of $202.29 billion, a P/E ratio of 143.08, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The firm has a 50-day moving average of $839.29 and a 200 day moving average of $968.04.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion for 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%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.41 EPS. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

Insider Activity

In other ServiceNow news, General Counsel Russell S. Elmer sold 2,511 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $1,012.09, for a total transaction of $2,541,357.99. Following the completion of the sale, the general counsel now directly owns 4,332 shares in the company, valued at approximately $4,384,373.88. This trade represents a 36.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 292 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,618 shares of company stock worth $21,132,878 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of analyst reports. Citigroup decreased their target price on shares of ServiceNow from $1,426.00 to $1,082.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Canaccord Genuity Group decreased their price objective on ServiceNow from $1,275.00 to $900.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Guggenheim increased their target price on ServiceNow from $716.00 to $724.00 and gave the company a “sell” rating in a report on Thursday, April 24th. Stifel Nicolaus set a $975.00 price target on ServiceNow and gave the stock a “buy” rating in a research note on Thursday, April 24th. Finally, Oppenheimer increased 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, January 30th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,041.00.

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.