ServiceNow, Inc. (NYSE:NOW) is Axiom Investors LLC DE's 9th Largest Position

Axiom Investors LLC DE boosted its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 67.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,594 shares of the information technology services provider's stock after acquiring an additional 160,378 shares during the quarter. ServiceNow accounts for 3.1% of Axiom Investors LLC DE's portfolio, making the stock its 9th largest position. Axiom Investors LLC DE owned about 0.19% of ServiceNow worth $422,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOW. Vanguard Group Inc. increased its stake in shares of ServiceNow by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after buying an additional 190,430 shares during the period. State Street Corp increased its position in ServiceNow by 2.6% in the third quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider's stock worth $8,118,867,000 after purchasing an additional 226,023 shares during the period. World Investment Advisors LLC raised its holdings in ServiceNow by 499,668.1% during the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider's stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC lifted its position in ServiceNow by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider's stock valued at $3,753,828,000 after purchasing an additional 78,378 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of ServiceNow by 24.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider's stock valued at $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. 87.18% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOW. Mizuho cut their price objective on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a report on Tuesday, March 11th. Cantor Fitzgerald reissued an "overweight" rating and issued a $1,048.00 price target on shares of ServiceNow in a research note on Tuesday, March 11th. Stifel Nicolaus dropped their price objective on ServiceNow from $1,175.00 to $950.00 and set a "buy" rating for the company in a report on Wednesday. Needham & Company LLC upped their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Finally, StockNews.com cut ServiceNow from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,087.21.

ServiceNow Price Performance

Shares of NYSE:NOW traded up $13.08 during midday trading on Wednesday, reaching $824.64. 1,619,815 shares of the company were exchanged, compared to its average volume of 1,418,692. The stock has a market cap of $169.88 billion, a PE ratio of 120.74, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. 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 business's fifty day moving average is $939.07 and its two-hundred day moving average is $983.75.

ServiceNow (NYSE:NOW - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. As a group, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its Board of Directors has initiated a share 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 repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the transaction, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. The trade was a 32.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,351 shares of company stock worth $20,050,076. Insiders own 0.25% of the company's stock.

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.