ServiceNow, Inc. (NYSE:NOW) Stock Holdings Cut by Shaker Investments LLC OH

Shaker Investments LLC OH lessened its position in ServiceNow, Inc. (NYSE:NOW) by 0.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,232 shares of the information technology services provider’s stock after selling 11 shares during the period. Shaker Investments LLC OH’s holdings in ServiceNow were worth $2,366,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NOW. State Street Corp lifted its holdings in ServiceNow by 2.6% in the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock valued at $8,118,867,000 after acquiring an additional 226,023 shares during the last quarter. FMR LLC raised its holdings in shares of ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after purchasing an additional 502,845 shares in the last quarter. World Investment Advisors LLC lifted its stake in ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC boosted its holdings in ServiceNow by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock worth $3,753,828,000 after buying an additional 78,378 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in ServiceNow by 24.1% in the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after buying an additional 615,797 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Stock Up 1.3 %

Shares of NOW stock opened at $1,021.52 on Tuesday. The stock has a market cap of $210.43 billion, a P/E ratio of 149.56, a price-to-earnings-growth ratio of 4.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a fifty day moving average price of $1,080.32 and a 200 day moving average price of $966.85. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NOW shares. Oppenheimer raised their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Robert W. Baird decreased their price target on ServiceNow from $1,250.00 to $1,200.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Morgan Stanley downgraded ServiceNow from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $900.00 to $960.00 in a report on Monday, October 21st. Guggenheim reiterated a “sell” rating and issued a $716.00 target price on shares of ServiceNow in a report on Wednesday, January 22nd. Finally, KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,129.72.

Insider Buying and Selling at ServiceNow

In other news, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,048.29, for a total value of $69,187.14. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $3,173,173.83. The trade was a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anita M. Sands sold 2,229 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $2,372,993.40. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $11,710,600. This represents a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,702 shares of company stock worth $20,965,306 over the last three months. Company insiders own 0.25% of the company’s stock.

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.