ServiceNow, Inc. (NYSE:NOW) Stake Raised by NS Partners Ltd

NS Partners Ltd grew its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,405 shares of the information technology services provider's stock after purchasing an additional 1,403 shares during the period. NS Partners Ltd's holdings in ServiceNow were worth $25,872,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NOW. Avidian Wealth Enterprises LLC lifted its stake in shares of ServiceNow by 39.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 488 shares of the information technology services provider's stock valued at $436,000 after purchasing an additional 138 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of ServiceNow by 37.8% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 2,634 shares of the information technology services provider's stock valued at $2,356,000 after buying an additional 722 shares during the period. M&G PLC raised its holdings in shares of ServiceNow by 34.5% during the 3rd quarter. M&G PLC now owns 6,492 shares of the information technology services provider's stock valued at $5,804,000 after buying an additional 1,666 shares during the period. Advisor Resource Council purchased a new stake in shares of ServiceNow during the 3rd quarter valued at about $256,000. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of ServiceNow by 6.9% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 4,651 shares of the information technology services provider's stock valued at $4,160,000 after buying an additional 299 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was 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 owns 3,649 shares of the company's stock, valued at $3,370,654.28. This trade represents a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total value 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citigroup dropped their target price on ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Cantor Fitzgerald assumed coverage on ServiceNow in a report on Friday, January 17th. They set an "overweight" rating and a $1,332.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Guggenheim restated a "sell" rating and set a $716.00 price objective on shares of ServiceNow in a report on Wednesday, January 22nd. Finally, Mizuho lifted their price objective on ServiceNow from $1,070.00 to $1,210.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,129.72.

ServiceNow Stock Performance

Shares of NYSE:NOW traded down $16.56 on Friday, hitting $850.54. The company's stock had a trading volume of 2,527,596 shares, compared to its average volume of 1,705,930. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a market capitalization of $175.21 billion, a price-to-earnings ratio of 124.53, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. The stock's 50-day moving average is $1,017.44 and its two-hundred day moving average is $985.92. 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 (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 (EPS) for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has approved a stock repurchase 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 usually an indication that the company's leadership believes its stock is 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.