ServiceNow, Inc. (NYSE:NOW) Shares Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lessened its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,507 shares of the information technology services provider's stock after selling 846 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in ServiceNow were worth $6,898,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Polymer Capital Management HK LTD increased its holdings in shares of ServiceNow by 57.0% during the 3rd quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock valued at $2,416,000 after purchasing an additional 981 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in ServiceNow in the fourth quarter valued at $48,802,000. Dock Street Asset Management Inc. raised its position in shares of ServiceNow by 3.4% in the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock worth $35,147,000 after acquiring an additional 1,105 shares during the period. Cardano Risk Management B.V. purchased a new stake in shares of ServiceNow during the 4th quarter worth about $105,090,000. Finally, Rheos Capital Works Inc. acquired a new position in ServiceNow in the 4th quarter worth about $10,071,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Gina Mastantuono sold 4,442 shares of the business's stock in a transaction on Friday, February 21st. The shares were 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 directly owns 11,126 shares of the company's stock, valued at $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the sale, the insider now owns 3,649 shares in the company, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

Several brokerages have recently weighed in on NOW. Canaccord Genuity Group reaffirmed a "buy" rating and set a $1,275.00 target price on shares of ServiceNow in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lifted their target price on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Citigroup reduced their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC lifted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Finally, Truist Financial increased their target price 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 issued a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus price target of $1,093.76.

ServiceNow Stock Down 2.7 %

Shares of ServiceNow stock traded down $22.84 during trading on Wednesday, hitting $838.54. 1,348,294 shares of the stock were exchanged, compared to its average volume of 1,356,298. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The firm's 50-day moving average price is $960.38 and its 200 day moving average price is $984.72. The stock has a market cap of $172.74 billion, a price-to-earnings ratio of 122.77, a price-to-earnings-growth 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.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data 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 return on equity of 17.11% and a net margin of 12.97%. As a group, analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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.