ServiceNow, Inc. (NYSE:NOW) Shares Bought by Marshall Wace LLP

Marshall Wace LLP grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 157.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 132,353 shares of the information technology services provider's stock after buying an additional 81,036 shares during the period. Marshall Wace LLP owned 0.06% of ServiceNow worth $140,310,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NOW. Atala Financial Inc acquired a new position in ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA purchased a new position in ServiceNow during the fourth quarter valued at $32,000. FPC Investment Advisory Inc. grew its position in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 29 shares during the period. Noble Wealth Management PBC acquired a new position in shares of ServiceNow during the 4th quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new position in ServiceNow in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

NOW has been the topic of a number of research reports. Royal Bank of Canada set a $986.00 price objective on ServiceNow in a report on Tuesday, March 11th. Robert W. Baird decreased 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 report on Wednesday, March 26th. UBS Group reduced their price target on shares of ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. Mizuho reduced their target price on ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Finally, Redburn Atlantic started coverage on ServiceNow in a research report on Wednesday, February 19th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the stock. According to data from MarketBeat.com, ServiceNow currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,057.17.

ServiceNow Stock Performance

Shares of ServiceNow stock traded down $24.48 on Friday, hitting $772.18. The stock had a trading volume of 1,802,088 shares, compared to its average volume of 1,480,170. The stock has a market cap of $159.84 billion, a price-to-earnings ratio of 113.06, a P/E/G ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company's 50 day moving average price is $852.94 and its 200 day moving average price is $970.14. 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 issued its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has authorized a share buyback 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 buy up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at ServiceNow

In other news, General Counsel Russell S. Elmer sold 2,511 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $1,012.09, for a total transaction of $2,541,357.99. Following the completion of the sale, the general counsel now owns 4,332 shares in the company, valued at $4,384,373.88. This represents a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Larry Quinlan sold 415 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total transaction of $418,075.15. Following the transaction, the director now owns 1,737 shares of the company's stock, valued at approximately $1,749,871.17. The trade was a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,250 shares of company stock worth $19,853,273 in the last quarter. Company insiders own 0.38% of the company's stock.

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.