Trillium Asset Management LLC Has $86.67 Million Stake in ServiceNow, Inc. (NYSE:NOW)

Trillium Asset Management LLC lowered its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,755 shares of the information technology services provider's stock after selling 6,397 shares during the quarter. ServiceNow comprises approximately 2.2% of Trillium Asset Management LLC's holdings, making the stock its 6th largest holding. Trillium Asset Management LLC's holdings in ServiceNow were worth $86,670,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Avidian Wealth Enterprises LLC lifted its holdings in shares of ServiceNow by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock worth $527,000 after purchasing an additional 9 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in shares of ServiceNow by 2.2% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 459 shares of the information technology services provider's stock worth $487,000 after purchasing an additional 10 shares during the period. Institute for Wealth Management LLC. lifted its holdings in shares of ServiceNow by 0.4% during the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock worth $2,779,000 after purchasing an additional 11 shares during the period. TBH Global Asset Management LLC lifted its holdings in shares of ServiceNow by 3.8% during the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after purchasing an additional 11 shares during the period. Finally, Onefund LLC lifted its holdings in shares of ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after purchasing an additional 11 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

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Analysts Set New Price Targets

Several research firms recently issued reports on NOW. Canaccord Genuity Group restated a "buy" rating and issued a $1,275.00 target price on shares of ServiceNow in a report on Tuesday, March 11th. Robert W. Baird dropped their target price on shares of ServiceNow from $1,250.00 to $1,200.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. Piper Sandler boosted their target price on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Needham & Company LLC boosted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Finally, KeyCorp lowered shares of ServiceNow from an "overweight" rating to a "sector weight" rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the company's stock. According to MarketBeat.com, ServiceNow presently has an average rating of "Moderate Buy" and a consensus target price of $1,100.31.

Insider Activity

In other news, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at $3,204,200.58. This represents a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the transaction, the chief financial officer now directly owns 11,126 shares of the company's stock, valued at $10,733,252.20. This represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,351 shares of company stock valued at $20,050,076 in the last three months. Company insiders own 0.25% of the company's stock.

ServiceNow Stock Up 0.5 %

NOW stock traded up $3.80 during trading on Friday, reaching $827.92. The stock had a trading volume of 2,904,241 shares, compared to its average volume of 1,351,375. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company's 50 day moving average is $971.31 and its two-hundred day moving average is $984.34. The company has a market capitalization of $170.55 billion, a price-to-earnings ratio of 121.22, a P/E/G ratio of 4.51 and a beta of 1.03.

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 net margin of 12.97% and a return on equity of 17.11%. Equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has authorized a share buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

ServiceNow Company 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.