ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC grew its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 46.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,524 shares of the information technology services provider's stock after buying an additional 6,166 shares during the quarter. Mizuho Securities USA LLC's holdings in ServiceNow were worth $20,698,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NOW. Avidian Wealth Enterprises LLC increased its stake in shares of ServiceNow by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock valued at $527,000 after acquiring an additional 9 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in ServiceNow by 2.2% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $487,000 after purchasing an additional 10 shares during the period. Institute for Wealth Management LLC. increased its stake in ServiceNow by 0.4% in the fourth 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 purchasing an additional 11 shares in the last quarter. TBH Global Asset Management LLC raised its holdings 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 valued at $320,000 after purchasing an additional 11 shares during the period. Finally, Onefund LLC boosted its position in shares of ServiceNow by 2.0% during the 4th 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. Institutional investors and hedge funds own 87.18% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have recently commented on NOW. The Goldman Sachs Group increased their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Citigroup reduced their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. TD Cowen raised their price target on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Robert W. Baird reduced their price objective on shares of ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating for the company in a research report on Wednesday. Finally, Piper Sandler lifted their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,093.76.

Insider Activity

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of ServiceNow stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,204,200.58. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,644,564.50. This trade represents a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock worth $20,050,076 over the last ninety days. Corporate insiders own 0.25% of the company's stock.

ServiceNow Trading Down 2.7 %

NYSE:NOW traded down $22.84 during midday trading on Wednesday, reaching $838.54. 1,348,294 shares of the stock traded hands, compared to its average volume of 1,356,298. The stock has a market capitalization of $172.74 billion, a P/E ratio of 122.77, a PEG 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 fifty day moving average of $964.71 and a 200 day moving average of $985.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data 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%. On average, research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has authorized a share 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 typically a sign that the company's board believes its stock is undervalued.

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.