Nilsine Partners LLC Buys Shares of 242 ServiceNow, Inc. (NYSE:NOW)

Nilsine Partners LLC purchased a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 242 shares of the information technology services provider's stock, valued at approximately $257,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Polymer Capital Management HK LTD boosted its holdings in ServiceNow by 57.0% in the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock valued at $2,416,000 after acquiring an additional 981 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of ServiceNow during the 4th quarter valued at about $48,802,000. Avidian Wealth Enterprises LLC grew its stake in ServiceNow by 39.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock worth $436,000 after purchasing an additional 138 shares during the period. Venturi Wealth Management LLC increased its holdings in ServiceNow by 36.4% in the third quarter. Venturi Wealth Management LLC now owns 2,868 shares of the information technology services provider's stock worth $2,565,000 after purchasing an additional 765 shares in the last quarter. Finally, Cardano Risk Management B.V. acquired a new stake in shares of ServiceNow during the 4th quarter worth approximately $105,090,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jeffrey A. Miller sold 2,879 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $1,019.12, for a total transaction of $2,934,046.48. Following the transaction, the director now directly owns 42,920 shares of the company's stock, valued at approximately $43,740,630.40. The trade was a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $3,204,200.58. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,731 shares of company stock worth $21,016,751 in the last ninety days. 0.25% of the stock is owned by insiders.

ServiceNow Price Performance

NYSE NOW traded down $131.96 on Thursday, reaching $1,011.67. 6,194,674 shares of the company's stock traded hands, compared to its average volume of 1,655,496. The stock has a market cap of $208.40 billion, a PE ratio of 157.34, a P/E/G ratio of 5.11 and a beta of 0.99. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a 50-day simple moving average of $1,085.21 and a 200 day simple moving average of $952.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.67 by ($1.74). ServiceNow had a net margin of 12.77% and a return on equity of 16.03%. As a group, research analysts predict that ServiceNow, Inc. will post 7.06 earnings per share for the current year.

ServiceNow announced that its Board of Directors has authorized a share repurchase 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 reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

NOW has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of ServiceNow from $950.00 to $1,250.00 and gave the company an "overweight" rating in a research note on Wednesday. KeyCorp lowered ServiceNow from an "overweight" rating to a "sector weight" rating in a report on Friday, December 13th. Jefferies Financial Group lowered their target price on shares of ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating for the company in a report on Thursday. Oppenheimer boosted their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, The Goldman Sachs Group raised their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,129.93.

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.