OMERS ADMINISTRATION Corp Has $195.18 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

OMERS ADMINISTRATION Corp trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,111 shares of the information technology services provider’s stock after selling 936 shares during the period. ServiceNow accounts for about 1.7% of OMERS ADMINISTRATION Corp’s investment portfolio, making the stock its 17th biggest holding. OMERS ADMINISTRATION Corp’s holdings in ServiceNow were worth $195,180,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NOW. Quarry LP bought a new stake in shares of ServiceNow in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new position in ServiceNow in the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow in the fourth quarter worth about $32,000. FPC Investment Advisory Inc. raised its position in shares of ServiceNow by 725.0% during the fourth 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 bought a new position in shares of ServiceNow during the 4th quarter valued at about $34,000. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,015.60 on Tuesday. The business’s 50-day moving average price is $846.83 and its 200-day moving average price is $971.03. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $210.23 billion, a price-to-earnings ratio of 148.70, a PEG ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the firm posted $3.41 EPS. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has approved a share buyback program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on NOW. Robert W. Baird raised their target price on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Mizuho cut their price objective on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Royal Bank of Canada boosted their price target on ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. Bank of America decreased their price objective on ServiceNow from $1,280.00 to $1,025.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Morgan Stanley upped their price target on ServiceNow from $881.00 to $950.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ServiceNow has an average rating of “Moderate Buy” and an average target price of $1,055.83.

Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at approximately $3,370,654.28. This represents a 44.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Gina Mastantuono sold 4,442 shares of the firm’s stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 14,844 shares of company stock valued at $14,204,938. Corporate insiders own 0.38% of the company’s stock.

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.