Sei Investments Co. Has $373.09 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Sei Investments Co. lessened its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 351,937 shares of the information technology services provider's stock after selling 19,080 shares during the quarter. Sei Investments Co. owned approximately 0.17% of ServiceNow worth $373,092,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NOW. Atala Financial Inc bought a new position in shares of ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new position in ServiceNow in the 4th quarter worth $32,000. Noble Wealth Management PBC acquired a new position in ServiceNow during the 4th quarter worth $34,000. Truvestments Capital LLC bought a new stake in ServiceNow during the third quarter valued at about $30,000. Finally, FPC Investment Advisory Inc. grew its position in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on NOW. JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a report on Thursday, January 30th. TD Cowen upped their target price on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Robert W. Baird reduced their price target on shares of ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating for the company in a report on Wednesday. UBS Group cut their price objective on shares of ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. Finally, 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. One research 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,093.76.

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Insider Buying and Selling

In other ServiceNow news, insider Jacqueline P. Canney sold 292 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $297,124.60. Following the completion of the sale, the insider now owns 3,027 shares of the company's stock, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction that occurred 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 directly owns 3,649 shares in the company, valued at approximately $3,370,654.28. The trade was a 44.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock valued at $20,050,076 over the last three months. Company insiders own 0.25% of the company's stock.

ServiceNow Trading Down 2.7 %

ServiceNow stock traded down $22.84 during mid-day trading on Wednesday, hitting $838.54. The stock had a trading volume of 1,348,294 shares, compared to its average volume of 1,356,298. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a market capitalization of $172.74 billion, a PE ratio of 122.77, a P/E/G ratio of 4.51 and a beta of 1.03. The stock has a 50-day simple moving average of $964.71 and a two-hundred day simple moving average of $985.75.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results 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 net margin of 12.97% and a return on equity of 17.11%. As a group, sell-side analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has approved a stock buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management 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.