Korea Investment CORP Has $173.02 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Korea Investment CORP trimmed its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,209 shares of the information technology services provider's stock after selling 4,543 shares during the quarter. Korea Investment CORP owned about 0.08% of ServiceNow worth $173,021,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cottage Street Advisors LLC acquired a new position in shares of ServiceNow during the fourth quarter valued at about $201,000. Arlington Capital Management Inc. acquired a new position in ServiceNow in the 4th quarter valued at approximately $201,000. Banco BTG Pactual S.A. bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $430,000. Ausdal Financial Partners Inc. increased its position in shares of ServiceNow by 5.8% during the fourth quarter. Ausdal Financial Partners Inc. now owns 671 shares of the information technology services provider's stock valued at $711,000 after purchasing an additional 37 shares during the period. Finally, Financial Engines Advisors L.L.C. raised its stake in shares of ServiceNow by 3.1% in the fourth quarter. Financial Engines Advisors L.L.C. now owns 3,144 shares of the information technology services provider's stock valued at $3,333,000 after purchasing an additional 94 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

NOW opened at $797.39 on Tuesday. The stock has a market cap of $164.26 billion, a P/E ratio of 116.75, a P/E/G 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 quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $944.81 and a 200 day simple moving average of $984.23.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, research analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has initiated a stock repurchase program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes 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 stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NOW shares. Redburn Atlantic began coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,048.00 price objective on shares of ServiceNow in a report on Tuesday, March 11th. Robert W. Baird cut their target price on ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. The Goldman Sachs Group lifted their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the company a "buy" rating in a report on Friday, January 10th. Finally, Citigroup lowered their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. One equities research 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 company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,088.59.

Insider Buying and Selling

In other news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were 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 of the company's stock, valued at $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of ServiceNow 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 owns 3,027 shares in the company, valued at $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 have sold a total of 20,351 shares of company stock worth $20,050,076 over the last ninety days. Company insiders own 0.25% of the company's stock.

ServiceNow 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.