Lord Abbett & CO. LLC Has $185.79 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Lord Abbett & CO. LLC increased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 62.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 175,252 shares of the information technology services provider's stock after acquiring an additional 67,475 shares during the quarter. Lord Abbett & CO. LLC owned about 0.09% of ServiceNow worth $185,788,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Atala Financial Inc acquired a new position in ServiceNow in the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA acquired a new position in shares of ServiceNow in the fourth quarter valued at $32,000. FPC Investment Advisory Inc. lifted its position in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares during the period. Noble Wealth Management PBC acquired a new stake in ServiceNow during the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in ServiceNow during the fourth quarter worth $37,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at $2,435,554.47. This represents a 10.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey A. Miller sold 2,282 shares of ServiceNow stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $1,030.64, for a total transaction of $2,351,920.48. Following the completion of the sale, the director now owns 40,638 shares in the company, valued at $41,883,148.32. This trade represents a 5.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,250 shares of company stock valued at $19,853,273. Company insiders own 0.38% of the company's stock.

ServiceNow Trading Down 0.8 %

Shares of ServiceNow stock traded down $7.58 during trading on Monday, hitting $937.68. 2,046,739 shares of the company were exchanged, compared to its average volume of 1,957,372. The firm has a market capitalization of $194.10 billion, a P/E ratio of 137.29, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. The firm's fifty day moving average price is $838.68 and its 200 day moving average price is $967.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. 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 posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the business posted $3.41 earnings per share. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley upped their price objective on ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a research note on Thursday. Sanford C. Bernstein restated an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a research report on Thursday. Redburn Atlantic started coverage on ServiceNow in a research report on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $1,048.00 target price on shares of ServiceNow in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,032.94.

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.