Saturna Capital Corp Increases Position in ServiceNow, Inc. (NYSE:NOW)

Saturna Capital Corp boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 0.0% in the 4th quarter, HoldingsChannel reports. The fund owned 188,814 shares of the information technology services provider’s stock after buying an additional 16 shares during the quarter. ServiceNow accounts for 2.7% of Saturna Capital Corp’s portfolio, making the stock its 10th biggest position. Saturna Capital Corp’s holdings in ServiceNow were worth $200,165,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Noble Wealth Management PBC bought a new position in shares of ServiceNow in the fourth quarter worth approximately $34,000. Truvestments Capital LLC bought a new position in shares of ServiceNow during the third quarter valued at about $30,000. FPC Investment Advisory Inc. boosted its holdings 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. Heck Capital Advisors LLC purchased a new position in ServiceNow during the 4th quarter valued at about $37,000. Finally, Stonebridge Financial Group LLC bought a new position in ServiceNow during the 4th quarter valued at approximately $37,000. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the completion of the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total value of $2,720,355.40. Following the transaction, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

Shares of NOW opened at $810.27 on Wednesday. The firm has a market cap of $166.92 billion, a PE ratio of 118.63, a P/E/G ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year 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 fifty day simple moving average of $1,006.72 and a two-hundred day simple moving average of $985.52.

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

ServiceNow declared that its board has authorized a share repurchase plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NOW shares. JMP Securities reiterated a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a report on Thursday, January 30th. Piper Sandler raised their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. StockNews.com downgraded ServiceNow from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Needham & Company LLC lifted their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, William Blair reiterated an “outperform” rating on shares of ServiceNow in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,114.24.

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.