ServiceNow, Inc. (NYSE:NOW) Stake Decreased by Boston Family Office LLC

Boston Family Office LLC lowered its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,270 shares of the information technology services provider's stock after selling 356 shares during the period. ServiceNow accounts for 1.6% of Boston Family Office LLC's investment portfolio, making the stock its 16th biggest position. Boston Family Office LLC's holdings in ServiceNow were worth $23,609,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Vanguard Group Inc. grew its holdings in ServiceNow by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after buying an additional 190,430 shares during the period. State Street Corp boosted its position in shares of ServiceNow by 2.6% in 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. World Investment Advisors LLC grew its holdings in ServiceNow by 499,668.1% in the third 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 purchasing an additional 4,771,830 shares during the period. Geode Capital Management LLC increased its position in ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after purchasing an additional 100,670 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in ServiceNow by 24.1% during the third quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider's stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

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ServiceNow Stock Down 6.9 %

Shares of ServiceNow stock traded down $53.38 during trading on Friday, reaching $720.69. The company had a trading volume of 2,897,689 shares, compared to its average volume of 1,435,445. The company has a market cap of $148.46 billion, a price-to-earnings ratio of 105.52, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The firm's fifty day moving average is $917.80 and its 200-day moving average is $980.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current 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 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 anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has approved a stock repurchase program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insider Activity at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the firm's 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 292 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total value of $297,124.60. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at approximately $3,080,123.85. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 in the last quarter. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NOW. StockNews.com downgraded ServiceNow from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. Mizuho dropped their price target on 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. UBS Group cut their price objective on ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. Stifel Nicolaus decreased their target price on ServiceNow from $1,175.00 to $950.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Oppenheimer raised their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. One 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. Based on data from MarketBeat, ServiceNow presently has an average rating of "Moderate Buy" and a consensus target price of $1,086.00.

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.