O Shaughnessy Asset Management LLC Has $24.99 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

O Shaughnessy Asset Management LLC boosted its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 23,572 shares of the information technology services provider's stock after purchasing an additional 2,493 shares during the period. O Shaughnessy Asset Management LLC's holdings in ServiceNow were worth $24,989,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOW. United Bank lifted its position in shares of ServiceNow by 46.0% in the fourth quarter. United Bank now owns 784 shares of the information technology services provider's stock valued at $831,000 after buying an additional 247 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of ServiceNow by 248.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 90,640 shares of the information technology services provider's stock worth $95,089,000 after acquiring an additional 64,609 shares during the period. IPG Investment Advisors LLC bought a new position in shares of ServiceNow during the fourth quarter worth approximately $1,611,000. RWA Wealth Partners LLC lifted its holdings in ServiceNow by 16.7% during the 4th quarter. RWA Wealth Partners LLC now owns 8,626 shares of the information technology services provider's stock worth $9,145,000 after purchasing an additional 1,237 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in ServiceNow by 155.2% during the 4th quarter. Schroder Investment Management Group now owns 486,902 shares of the information technology services provider's stock worth $516,175,000 after purchasing an additional 296,096 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

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Analyst Ratings Changes

NOW has been the topic of several recent research reports. Jefferies Financial Group lowered their price objective on ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating on the stock in a research report on Thursday, January 30th. Citigroup lowered their price target on shares of ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Truist Financial cut their price objective on shares of ServiceNow from $1,100.00 to $950.00 and set a "hold" rating for the company in a report on Monday. Oppenheimer raised their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,048.00 price target on shares of ServiceNow in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,087.21.

Insiders Place Their Bets

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the transaction, the insider now owns 3,649 shares of the company's stock, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 455 shares of the company's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is currently owned by insiders.

ServiceNow Trading Up 1.6 %

NYSE NOW traded up $13.08 on Wednesday, reaching $824.64. The company had a trading volume of 1,619,815 shares, compared to its average volume of 1,418,687. The firm has a market cap of $169.88 billion, a price-to-earnings ratio of 120.74, a P/E/G ratio of 4.51 and a beta of 1.03. 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 fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The business has a 50 day moving average of $939.07 and a two-hundred day moving average of $983.75.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. Analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

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.