Shell Asset Management Co. Has $18.43 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Shell Asset Management Co. lifted its position in ServiceNow, Inc. (NYSE:NOW) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 17,389 shares of the information technology services provider’s stock after acquiring an additional 874 shares during the period. ServiceNow comprises 0.8% of Shell Asset Management Co.’s investment portfolio, making the stock its 16th largest holding. Shell Asset Management Co.’s holdings in ServiceNow were worth $18,434,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Avidian Wealth Enterprises LLC raised its stake in ServiceNow by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider’s stock valued at $527,000 after buying an additional 9 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its stake in ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $487,000 after buying an additional 10 shares during the last quarter. Institute for Wealth Management LLC. increased its stake in shares of ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider’s stock worth $2,779,000 after purchasing an additional 11 shares in the last quarter. TBH Global Asset Management LLC raised its holdings in ServiceNow by 3.8% in the 4th quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider’s stock worth $320,000 after purchasing an additional 11 shares during the period. Finally, Onefund LLC raised its holdings in ServiceNow by 2.0% in the 4th quarter. Onefund LLC now owns 552 shares of the information technology services provider’s stock worth $585,000 after purchasing an additional 11 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 66 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $67,518.00. Following the completion of the transaction, the insider now owns 3,027 shares of the company’s stock, valued at $3,096,621. This trade represents a 2.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $4,285,197.40. Following the completion of the transaction, the chief financial officer now directly owns 11,126 shares of the company’s stock, valued at $10,733,252.20. This represents a 28.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,872 shares of company stock worth $13,261,400. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on NOW. Morgan Stanley raised their target price on ServiceNow from $881.00 to $950.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Raymond James decreased their price target on ServiceNow from $1,200.00 to $1,000.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. UBS Group reissued a “buy” rating and set a $1,025.00 price target (up from $900.00) on shares of ServiceNow in a report on Thursday, April 24th. Needham & Company LLC reissued a “buy” rating and set a $1,050.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price target on ServiceNow from $1,200.00 to $970.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,062.50.

ServiceNow Price Performance

NYSE:NOW opened at $1,035.34 on Friday. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $214.32 billion, a price-to-earnings ratio of 151.59, a PEG ratio of 4.51 and a beta of 0.97. The firm’s fifty day moving average is $858.93 and its two-hundred day moving average is $972.52.

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

ServiceNow declared that its Board of Directors has approved a stock 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 reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.