O Neil Global Advisors Inc. Has $2.87 Million Stake in ServiceNow, Inc. (NYSE:NOW)

O Neil Global Advisors Inc. reduced its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,710 shares of the information technology services provider's stock after selling 450 shares during the quarter. ServiceNow accounts for 0.8% of O Neil Global Advisors Inc.'s portfolio, making the stock its 12th largest position. O Neil Global Advisors Inc.'s holdings in ServiceNow were worth $2,873,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NOW. Foundations Investment Advisors LLC increased its holdings in shares of ServiceNow by 19.3% during the third quarter. Foundations Investment Advisors LLC now owns 624 shares of the information technology services provider's stock valued at $558,000 after purchasing an additional 101 shares during the period. Segment Wealth Management LLC grew its position in ServiceNow by 39.3% in the 3rd quarter. Segment Wealth Management LLC now owns 709 shares of the information technology services provider's stock valued at $634,000 after buying an additional 200 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in ServiceNow by 44.0% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,076 shares of the information technology services provider's stock valued at $963,000 after buying an additional 329 shares during the period. Axecap Investments LLC bought a new stake in shares of ServiceNow during the 3rd quarter worth about $985,000. Finally, International Assets Investment Management LLC boosted its stake in ServiceNow by 89,137.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,185,067 shares of the information technology services provider's stock valued at $1,059,912,000 after purchasing an additional 1,183,739 shares in the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Down 3.1 %

Shares of NYSE NOW traded down $30.19 during trading hours on Friday, hitting $937.79. The stock had a trading volume of 2,001,299 shares, compared to its average volume of 1,645,842. The company has a market capitalization of $193.18 billion, a P/E ratio of 137.30, a P/E/G ratio of 4.60 and a beta of 0.99. The firm's 50-day moving average price is $1,058.36 and its two-hundred day moving average price is $976.01. 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, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly 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%. Analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its board has authorized a share buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anita M. Sands sold 2,229 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $2,372,993.40. Following the completion of the sale, the director now owns 11,000 shares of the company's stock, valued at $11,710,600. The trade was a 16.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,806 shares of company stock worth $16,065,122 over the last three months. Corporate insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. The Goldman Sachs Group boosted 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. Redburn Atlantic initiated coverage on shares of ServiceNow in a research report on Wednesday. They issued a "buy" rating on the stock. Scotiabank started coverage on shares of ServiceNow in a research report on Tuesday, November 19th. They set a "sector outperform" rating and a $1,230.00 price objective for the company. TD Cowen boosted their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Finally, Barclays raised their target price on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,129.72.

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.