ServiceNow, Inc. (NYSE:NOW) Shares Bought by Centaurus Financial Inc.

Centaurus Financial Inc. grew its position in shares of ServiceNow, Inc. (NYSE:NOW) by 83.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,568 shares of the information technology services provider’s stock after acquiring an additional 711 shares during the quarter. Centaurus Financial Inc.’s holdings in ServiceNow were worth $1,662,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Janus Henderson Group PLC boosted its position in shares of ServiceNow by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider’s stock worth $874,258,000 after buying an additional 12,533 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of ServiceNow in the fourth quarter worth about $48,802,000. Dock Street Asset Management Inc. boosted its position in shares of ServiceNow by 3.4% in the fourth 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 period. Rheos Capital Works Inc. purchased a new stake in shares of ServiceNow in the fourth quarter worth about $10,071,000. Finally, FMR LLC boosted its position in shares of ServiceNow by 4.9% in the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider’s stock worth $6,232,339,000 after buying an additional 272,506 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on NOW shares. Barclays set a $1,085.00 price target on ServiceNow in a research note on Wednesday, May 7th. The Goldman Sachs Group reiterated a “buy” rating on shares of ServiceNow in a research note on Thursday, April 24th. Wall Street Zen cut ServiceNow from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Guggenheim boosted their price target on ServiceNow from $716.00 to $724.00 and gave the stock a “sell” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.50.

Insider Activity

In other news, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the completion of the sale, the general counsel now owns 4,332 shares in the company, valued at approximately $4,431,636. This represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gina Mastantuono sold 84 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $85,932.00. Following the sale, the chief financial officer now owns 11,218 shares of the company’s stock, valued at $11,476,014. This trade represents a 0.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,674 shares of company stock worth $2,510,213. Insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

Shares of NYSE NOW opened at $1,019.98 on Thursday. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock has a fifty day moving average price of $892.91 and a two-hundred day moving average price of $975.64. The firm has a market cap of $211.12 billion, a P/E ratio of 149.34, a PEG ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm earned $3.41 EPS. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. Research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

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

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.