1,164 Shares in ServiceNow, Inc. (NYSE:NOW) Purchased by AssuredPartners Investment Advisors LLC

AssuredPartners Investment Advisors LLC acquired a new position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,164 shares of the information technology services provider's stock, valued at approximately $1,234,000.

Several other hedge funds also recently modified their holdings of NOW. NEOS Investment Management LLC raised its position in shares of ServiceNow by 29.8% during the 4th quarter. NEOS Investment Management LLC now owns 10,841 shares of the information technology services provider's stock valued at $11,493,000 after acquiring an additional 2,486 shares during the last quarter. UniSuper Management Pty Ltd raised its position in shares of ServiceNow by 27.4% in the 4th quarter. UniSuper Management Pty Ltd now owns 76,790 shares of the information technology services provider's stock valued at $81,407,000 after acquiring an additional 16,498 shares during the period. Sava Infond d.o.o. bought a new position in ServiceNow during the 4th quarter worth approximately $25,734,000. WINTON GROUP Ltd bought a new position in shares of ServiceNow during the fourth quarter worth $269,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of ServiceNow by 7.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 369,416 shares of the information technology services provider's stock valued at $396,668,000 after buying an additional 25,569 shares during the period. Institutional investors own 87.18% of the company's stock.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 292 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,080,123.85. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the business's 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 directly 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 disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 in the last ninety days. Corporate insiders own 0.25% of the company's stock.

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ServiceNow Stock Performance

Shares of NOW traded down $31.13 during trading hours on Friday, hitting $796.61. The stock had a trading volume of 1,758,174 shares, compared to its average volume of 1,408,303. The stock has a fifty day moving average price of $950.30 and a 200 day moving average price of $984.09. The firm has a market capitalization of $164.10 billion, a PE ratio of 116.63, a PEG ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has initiated a stock 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of research analyst reports. Oppenheimer upped their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. UBS Group decreased their target price on shares of ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. TD Cowen boosted their price target on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Royal Bank of Canada set a $986.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. Finally, Truist Financial raised their price target on ServiceNow from $900.00 to $1,100.00 and gave the company a "hold" rating in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and a consensus price target of $1,093.76.

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.