ServiceNow, Inc. (NYSE:NOW) Position Increased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 287,180 shares of the information technology services provider's stock after acquiring an additional 9,748 shares during the quarter. Dimensional Fund Advisors LP owned about 0.14% of ServiceNow worth $304,454,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of ServiceNow by 1.0% in the fourth 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 acquiring an additional 190,430 shares during the period. FMR LLC raised its position in ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the period. Geode Capital Management LLC lifted its stake in ServiceNow by 2.4% in 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. Norges Bank purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $2,603,360,000. Finally, Jennison Associates LLC grew its stake in shares of ServiceNow by 17.4% during the fourth quarter. Jennison Associates LLC now owns 2,352,111 shares of the information technology services provider's stock valued at $2,493,520,000 after buying an additional 348,187 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Larry Quinlan sold 415 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total transaction of $418,075.15. Following the completion of the transaction, the director now directly owns 1,737 shares in the company, valued at approximately $1,749,871.17. This represents a 19.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 292 shares of the company's stock in a transaction on Monday, February 10th. The shares were 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 in the company, valued at $3,080,123.85. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,250 shares of company stock worth $19,853,273 over the last ninety days. Corporate insiders own 0.38% of the company's stock.

ServiceNow Trading Up 15.4 %

NOW traded up $125.22 during trading on Thursday, hitting $937.92. 3,851,213 shares of the company's stock were exchanged, compared to its average volume of 1,498,651. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The stock has a 50 day moving average price of $840.59 and a 200 day moving average price of $967.11. The firm has a market cap of $194.15 billion, a P/E ratio of 137.09, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $3.78 by ($1.47). The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has initiated a share buyback program 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 programs are often an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

NOW has been the subject of a number of recent analyst reports. Citigroup dropped their price objective on ServiceNow from $1,426.00 to $1,082.00 and set a "buy" rating for the company in a report on Tuesday. Evercore ISI upped their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday. BMO Capital Markets cut their target price on ServiceNow from $990.00 to $950.00 and set an "outperform" rating on the stock in a research note on Tuesday. Redburn Atlantic initiated coverage on ServiceNow in a report on Wednesday, February 19th. They set a "buy" rating for the company. Finally, JMP Securities reiterated a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,032.90.

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.