Rockefeller Capital Management L.P. Purchases 4,264 Shares of ServiceNow, Inc. (NYSE:NOW)

Rockefeller Capital Management L.P. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 9.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 50,622 shares of the information technology services provider’s stock after acquiring an additional 4,264 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in ServiceNow were worth $53,403,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of ServiceNow in the third quarter valued at approximately $551,000. Virtu Financial LLC bought a new stake in ServiceNow during the 3rd quarter valued at $9,833,000. Anchor Investment Management LLC lifted its position in shares of ServiceNow by 6.1% during the third quarter. Anchor Investment Management LLC now owns 1,364 shares of the information technology services provider’s stock worth $1,220,000 after acquiring an additional 78 shares in the last quarter. Stock Yards Bank & Trust Co. bought a new position in shares of ServiceNow in the third quarter worth $202,000. Finally, World Investment Advisors LLC grew its position in shares of ServiceNow by 585.8% in the third quarter. World Investment Advisors LLC now owns 6,549 shares of the information technology services provider’s stock valued at $5,857,000 after purchasing an additional 5,594 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Activity at ServiceNow

In related news, CEO William R. Mcdermott sold 1,263 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock worth $20,050,076 in the last three months. 0.25% of the stock is owned by insiders.

ServiceNow Trading Up 0.3 %

NYSE NOW opened at $785.78 on Friday. The firm has a market cap of $162.66 billion, a PE ratio of 115.05, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The stock has a 50-day moving average of $875.51 and a 200-day moving average of $973.27. 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 data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has authorized a share repurchase plan 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 plans are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NOW. Redburn Atlantic began coverage on ServiceNow in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Piper Sandler raised their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. BMO Capital Markets decreased their target price on shares of ServiceNow from $1,185.00 to $990.00 and set an “outperform” rating on the stock in a report on Friday, April 4th. JMP Securities reissued a “market outperform” rating and issued a $1,300.00 price target on shares of ServiceNow in a report on Thursday, January 30th. Finally, Stifel Nicolaus decreased their price target on shares of ServiceNow from $1,175.00 to $950.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,073.93.

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.