ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,908 shares of the information technology services provider's stock after buying an additional 456 shares during the quarter. ServiceNow makes up 1.2% of Pittenger & Anderson Inc.'s holdings, making the stock its 14th largest holding. Pittenger & Anderson Inc.'s holdings in ServiceNow were worth $33,826,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in NOW. Creative Planning boosted its position in ServiceNow by 8.1% during the third quarter. Creative Planning now owns 55,887 shares of the information technology services provider's stock valued at $49,985,000 after purchasing an additional 4,170 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in ServiceNow by 12.2% in the third quarter. Stratos Wealth Partners LTD. now owns 8,646 shares of the information technology services provider's stock valued at $7,733,000 after buying an additional 938 shares during the last quarter. Capital Investment Advisors LLC raised its stake in ServiceNow by 15.2% in the third quarter. Capital Investment Advisors LLC now owns 2,717 shares of the information technology services provider's stock valued at $2,430,000 after buying an additional 359 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in ServiceNow by 0.3% in the third quarter. Commonwealth Equity Services LLC now owns 52,343 shares of the information technology services provider's stock valued at $46,815,000 after buying an additional 139 shares during the last quarter. Finally, Everett Harris & Co. CA purchased a new stake in ServiceNow in the third quarter valued at about $215,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NYSE:NOW traded down $18.95 during trading on Thursday, reaching $968.19. The stock had a trading volume of 1,349,334 shares, compared to its average volume of 1,635,015. The business has a fifty day moving average price of $1,061.97 and a 200-day moving average price of $976.06. The stock has a market cap of $199.45 billion, a PE ratio of 141.76, a PEG ratio of 4.64 and a beta of 0.99. 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 1-year low of $637.99 and a 1-year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings data 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 return on equity of 17.11% and a net margin of 12.97%. On average, equities analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow announced that its board has initiated a stock buyback plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have commented on NOW. Jefferies Financial Group decreased their price target on ServiceNow from $1,300.00 to $1,250.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. Wells Fargo & Company raised their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Scotiabank began coverage on ServiceNow in a research note on Tuesday, November 19th. They issued a "sector outperform" rating and a $1,230.00 price objective for the company. Sanford C. Bernstein raised their price objective on ServiceNow from $906.00 to $913.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Finally, Robert W. Baird reduced their price objective on ServiceNow from $1,250.00 to $1,200.00 and set an "outperform" rating for the company in a research note on Thursday, January 30th. One research 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 given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,129.72.

Insiders Place Their Bets

In other ServiceNow news, insider Jacqueline P. Canney sold 455 shares of ServiceNow 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 sale, the insider now owns 3,027 shares in the company, valued at $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 is available through the SEC website. Also, insider Nicholas Tzitzon sold 313 shares of ServiceNow stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1,064.60, for a total value of $333,219.80. Following the completion of the sale, the insider now owns 3,649 shares in the company, valued at $3,884,725.40. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,806 shares of company stock valued at $16,065,122. Insiders own 0.25% 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.