ServiceNow, Inc. (NYSE:NOW) Shares Sold by Ostrum Asset Management

Ostrum Asset Management lowered its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,823 shares of the information technology services provider's stock after selling 667 shares during the period. ServiceNow makes up 3.3% of Ostrum Asset Management's portfolio, making the stock its 9th biggest position. Ostrum Asset Management's holdings in ServiceNow were worth $37,977,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Atala Financial Inc purchased a new position in ServiceNow in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow during the 4th quarter valued at $32,000. FPC Investment Advisory Inc. increased its stake in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after buying an additional 29 shares during the period. Noble Wealth Management PBC acquired a new position in ServiceNow in the 4th quarter worth $34,000. Finally, Heck Capital Advisors LLC purchased a new position in ServiceNow in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Insider Activity at ServiceNow

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business's 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 sale, the insider now directly owns 3,649 shares of the company's stock, valued at $3,370,654.28. The trade was a 44.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $804.61, for a total transaction of $284,831.94. Following the completion of the sale, the insider now directly owns 3,027 shares of the company's stock, valued at $2,435,554.47. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,250 shares of company stock valued at $19,853,273 over the last ninety days. Insiders own 0.38% of the company's stock.

ServiceNow Price Performance

NYSE:NOW traded up $49.09 during midday trading on Wednesday, hitting $815.92. 2,852,903 shares of the stock were exchanged, compared to its average volume of 1,487,022. The business has a 50-day moving average price of $843.99 and a two-hundred day moving average price of $968.16. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $168.90 billion, a price-to-earnings ratio of 119.46, a P/E/G ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $3.78 by ($1.47). ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

Analysts Set New Price Targets

Several research analysts recently commented on NOW shares. Robert W. Baird cut their price target on ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Truist Financial decreased their price target on shares of ServiceNow from $1,100.00 to $950.00 and set a "hold" rating for the company in a research report on Monday, March 31st. The Goldman Sachs Group cut their price target on shares of ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Barclays decreased their price objective on shares of ServiceNow from $1,200.00 to $967.00 and set an "overweight" rating for the company in a report on Monday. Finally, Raymond James cut their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,021.43.

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.