Legal & General Group Plc lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 22.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,365,531 shares of the information technology services provider's stock after selling 400,538 shares during the quarter. Legal & General Group Plc owned 0.66% of ServiceNow worth $1,447,627,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Avidian Wealth Enterprises LLC raised its position in ServiceNow by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after purchasing an additional 9 shares during the period. Redhawk Wealth Advisors Inc. boosted its holdings in ServiceNow by 2.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock valued at $487,000 after acquiring an additional 10 shares during the period. Institute for Wealth Management LLC. grew its position in ServiceNow by 0.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock valued at $2,779,000 after acquiring an additional 11 shares in the last quarter. TBH Global Asset Management LLC lifted its position in shares of ServiceNow by 3.8% during the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after purchasing an additional 11 shares in the last quarter. Finally, Onefund LLC lifted its position in shares of ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after purchasing an additional 11 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at ServiceNow
In other news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow 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 completion of the transaction, the chief financial officer now owns 11,126 shares of the company's stock, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the sale, the insider now directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,351 shares of company stock valued at $20,050,076. Corporate insiders own 0.25% of the company's stock.
ServiceNow Stock Performance
Shares of NOW stock traded down $37.76 during trading hours on Thursday, reaching $788.19. 1,075,029 shares of the company's stock were exchanged, compared to its average volume of 1,453,563. 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 company's 50 day moving average is $884.76 and its two-hundred day moving average is $974.96. The company has a market cap of $162.37 billion, a P/E ratio of 115.20, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09.
ServiceNow (NYSE:NOW - Get Free Report) last issued its earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Equities research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.
ServiceNow declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on NOW shares. Canaccord Genuity Group reiterated a "buy" rating and set a $1,275.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. The Goldman Sachs Group reduced their price target on ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Thursday. Robert W. Baird cut their target price on shares of ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Truist Financial lowered their price target on shares of ServiceNow from $1,100.00 to $950.00 and set a "hold" rating for the company in a report on Monday, March 31st. Finally, Royal Bank of Canada set a $986.00 target price on shares of ServiceNow in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,073.93.
Check Out Our Latest Analysis on NOW
ServiceNow Company Profile
(
Free Report)
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.
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