Metis Global Partners LLC Has $13.91 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Metis Global Partners LLC lifted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 7.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,121 shares of the information technology services provider’s stock after purchasing an additional 962 shares during the period. Metis Global Partners LLC’s holdings in ServiceNow were worth $13,910,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NOW. Strategic Blueprint LLC acquired a new position in ServiceNow in the third quarter valued at approximately $241,000. Financial Advocates Investment Management lifted its holdings in ServiceNow by 5.5% in the third quarter. Financial Advocates Investment Management now owns 556 shares of the information technology services provider’s stock valued at $497,000 after buying an additional 29 shares during the period. HM Payson & Co. lifted its holdings in ServiceNow by 25.5% in the third quarter. HM Payson & Co. now owns 704 shares of the information technology services provider’s stock valued at $630,000 after buying an additional 143 shares during the period. Oak Ridge Investments LLC lifted its holdings in ServiceNow by 6.9% in the third quarter. Oak Ridge Investments LLC now owns 10,602 shares of the information technology services provider’s stock valued at $9,482,000 after buying an additional 687 shares during the period. Finally, LCM Capital Management Inc lifted its holdings in ServiceNow by 4.6% in the third quarter. LCM Capital Management Inc now owns 409 shares of the information technology services provider’s stock valued at $366,000 after buying an additional 18 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Stock Up 0.9 %

ServiceNow stock opened at $929.56 on Friday. The company has a market cap of $191.49 billion, a P/E ratio of 136.10, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The company has a fifty day simple moving average of $1,038.07 and a 200 day simple moving average of $981.66. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its board has initiated a share repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NOW has been the topic of several analyst reports. Jefferies Financial Group cut their price objective on shares of ServiceNow from $1,300.00 to $1,250.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Wells Fargo & Company upped their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Thursday, January 30th. TD Cowen upped their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Citigroup lowered their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the 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 completion of the sale, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock worth $20,050,076 over the last quarter. 0.25% of the stock is currently owned by insiders.

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.