abrdn plc Has $468.88 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

abrdn plc lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 441,546 shares of the information technology services provider's stock after selling 836 shares during the period. ServiceNow makes up 0.9% of abrdn plc's holdings, making the stock its 14th largest position. abrdn plc owned approximately 0.21% of ServiceNow worth $468,878,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Polymer Capital Management HK LTD lifted its holdings in ServiceNow by 57.0% in the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock worth $2,416,000 after purchasing an additional 981 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in ServiceNow during the fourth quarter worth $48,802,000. Avidian Wealth Enterprises LLC boosted its stake in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock worth $436,000 after buying an additional 138 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in ServiceNow by 36.4% during the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock worth $2,565,000 after buying an additional 765 shares in the last quarter. Finally, Cardano Risk Management B.V. acquired a new stake in shares of ServiceNow in the 4th quarter valued at $105,090,000. Institutional investors own 87.18% of the company's stock.

Insider Buying and Selling at ServiceNow

In other news, Director Jeffrey A. Miller sold 2,879 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now owns 42,920 shares of the company's stock, valued at approximately $43,740,630.40. This trade represents a 6.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William R. Mcdermott sold 12,271 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,588,953.65. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,657 shares of company stock worth $23,976,184. Insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NOW shares. Evercore ISI lifted their price target on ServiceNow from $950.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Raymond James assumed coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They set an "outperform" rating and a $1,200.00 price target on the stock. Barclays boosted their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Sanford C. Bernstein boosted their price objective on shares of ServiceNow from $906.00 to $913.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Finally, Robert W. Baird reduced their price objective on shares of ServiceNow from $1,250.00 to $1,200.00 and set an "outperform" rating for the company in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,129.72.

ServiceNow Stock Performance

NYSE:NOW traded up $16.12 during trading hours on Wednesday, reaching $1,026.25. 1,337,160 shares of the company's stock were exchanged, compared to its average volume of 1,722,188. The firm has a market capitalization of $211.41 billion, a price-to-earnings ratio of 150.26, a P/E/G ratio of 4.74 and a beta of 0.99. The company has a 50-day moving average of $1,081.85 and a 200 day moving average of $961.18. 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, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced 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%. Research analysts anticipate that ServiceNow, Inc. will post 8.94 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

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.