398 Shares in ServiceNow, Inc. (NYSE:NOW) Bought by Krane Funds Advisors LLC

Krane Funds Advisors LLC bought a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 398 shares of the information technology services provider's stock, valued at approximately $422,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. Atala Financial Inc bought a new stake in ServiceNow in the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA purchased a new position in shares of ServiceNow in the fourth quarter worth about $32,000. FPC Investment Advisory Inc. lifted its stake in shares of ServiceNow by 725.0% in the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in ServiceNow during the 4th quarter valued at about $34,000. Finally, Heck Capital Advisors LLC bought a new position in ServiceNow during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now directly owns 11,126 shares in the company, 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 business'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 completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at $3,080,123.85. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 over the last 90 days. Corporate insiders own 0.25% of the company's stock.

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ServiceNow Stock Down 1.2 %

ServiceNow stock traded down $9.10 during mid-day trading on Friday, hitting $774.39. The company had a trading volume of 1,189,036 shares, compared to its average volume of 1,458,662. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a market capitalization of $160.30 billion, a PE ratio of 112.63, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. The stock's 50 day moving average price is $880.00 and its two-hundred day moving average price is $973.99. 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 data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a share buyback plan 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 plans are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

NOW has been the subject of several recent research reports. Guggenheim reiterated a "sell" rating and issued a $716.00 price objective on shares of ServiceNow in a research report on Wednesday, January 22nd. Needham & Company LLC upped their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Oppenheimer raised their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Redburn Atlantic assumed coverage on shares of ServiceNow in a research note on Wednesday, February 19th. They set a "buy" rating for the company. Finally, Jefferies Financial Group cut their target price on ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,073.93.

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.