Dimensional Fund Advisors LP Buys 9,748 Shares of ServiceNow, Inc. (NYSE:NOW)

Dimensional Fund Advisors LP grew its position in ServiceNow, Inc. (NYSE:NOW) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 287,180 shares of the information technology services provider’s stock after acquiring an additional 9,748 shares during the quarter. Dimensional Fund Advisors LP owned about 0.14% of ServiceNow worth $304,454,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Union Bancaire Privee UBP SA bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $48,802,000. Dock Street Asset Management Inc. lifted its position in shares of ServiceNow by 3.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock worth $35,147,000 after purchasing an additional 1,105 shares during the last quarter. Cardano Risk Management B.V. bought a new position in shares of ServiceNow in the fourth quarter worth about $105,090,000. Rheos Capital Works Inc. bought a new stake in ServiceNow during the 4th quarter valued at about $10,071,000. Finally, Czech National Bank grew its stake in ServiceNow by 6.7% in the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider’s stock worth $47,486,000 after acquiring an additional 2,829 shares in the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO William R. Mcdermott sold 1,263 shares of the business’s stock in a transaction on Monday, February 10th. The shares were 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 of the company’s stock, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated 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 sale, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,250 shares of company stock worth $19,853,273. Company insiders own 0.38% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $772.18 on Monday. The stock has a market cap of $159.84 billion, a PE ratio of 113.06, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The business has a 50-day simple moving average of $852.94 and a 200-day simple moving average of $970.69. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

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

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. William Blair reissued an “outperform” rating on shares of ServiceNow in a research note on Friday, March 7th. Oppenheimer lifted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Redburn Atlantic initiated coverage on shares of ServiceNow in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Wells Fargo & Company cut their price objective on shares of ServiceNow from $1,250.00 to $1,100.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Finally, Royal Bank of Canada set a $986.00 price target on ServiceNow in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,057.17.

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.