ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 19,199,258 shares of the information technology services provider’s stock after acquiring an additional 190,430 shares during the quarter. Vanguard Group Inc. owned about 0.09% of ServiceNow worth $20,353,517,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NOW shares. Cantor Fitzgerald restated an “overweight” rating and set a $1,048.00 price objective on shares of ServiceNow in a research report on Tuesday, March 11th. Mizuho reduced their price objective on shares of ServiceNow from $1,210.00 to $1,100.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $1,275.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. KeyCorp lowered shares of ServiceNow from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Finally, Raymond James assumed coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $1,200.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,100.31.

ServiceNow Trading Up 0.5 %

Shares of ServiceNow stock opened at $827.92 on Friday. The firm has a market capitalization of $170.55 billion, a PE ratio of 121.22, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. 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 company’s fifty day moving average price is $971.31 and its two-hundred day moving average price is $984.34. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

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

ServiceNow declared that its Board of Directors has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, Director Larry Quinlan sold 415 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $1,007.41, for a total transaction of $418,075.15. Following the transaction, the director now owns 1,737 shares in the company, valued at $1,749,871.17. This represents a 19.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the company’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 transaction, the insider now owns 3,027 shares in the company, 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. In the last quarter, insiders have sold 20,351 shares of company stock worth $20,050,076. Corporate 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.