Advisory Services Network LLC Raises Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Advisory Services Network LLC lifted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 38.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,752 shares of the information technology services provider's stock after buying an additional 4,377 shares during the period. Advisory Services Network LLC's holdings in ServiceNow were worth $16,699,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in shares of ServiceNow during the fourth quarter worth $122,000. Abacus FCF Advisors LLC increased its position in ServiceNow by 46.6% during the 4th quarter. Abacus FCF Advisors LLC now owns 10,925 shares of the information technology services provider's stock valued at $11,582,000 after buying an additional 3,472 shares in the last quarter. FIL Ltd increased its position in ServiceNow by 22.0% during the 4th quarter. FIL Ltd now owns 561 shares of the information technology services provider's stock valued at $595,000 after buying an additional 101 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in ServiceNow in the fourth quarter worth about $422,000. Finally, Elgethun Capital Management grew its stake in shares of ServiceNow by 2.7% during the fourth quarter. Elgethun Capital Management now owns 852 shares of the information technology services provider's stock worth $903,000 after acquiring an additional 22 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NYSE:NOW traded up $2.29 during trading on Friday, reaching $785.78. The stock had a trading volume of 2,102,410 shares, compared to its average volume of 1,464,960. The business has a fifty day moving average price of $875.51 and a 200-day moving average price of $973.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $162.66 billion, a PE ratio of 115.05, a PEG 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.

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ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, meeting 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 forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

NOW has been the subject of several research analyst reports. Robert W. Baird lowered their target price on shares of ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. Raymond James dropped their price objective on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on ServiceNow from $950.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Royal Bank of Canada set a $986.00 price objective on ServiceNow in a research note on Tuesday, March 11th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $1,275.00 target price on shares of ServiceNow in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,073.93.

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares of the company's stock, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 455 shares of the business's stock in a transaction 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 transaction, the insider now directly owns 3,027 shares in the company, valued at $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 sold 20,351 shares of company stock worth $20,050,076. Insiders own 0.25% of the company's stock.

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.