ServiceNow, Inc. (NYSE:NOW) Stock Holdings Increased by ING Groep NV

ING Groep NV grew its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 17.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,311 shares of the information technology services provider's stock after buying an additional 6,760 shares during the period. ING Groep NV's holdings in ServiceNow were worth $49,095,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. State Street Corp lifted its stake 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 valued at $8,118,867,000 after buying an additional 226,023 shares during the last quarter. FMR LLC increased its holdings in shares of ServiceNow by 9.9% in the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider's stock valued at $5,014,302,000 after acquiring an additional 502,845 shares during the period. World Investment Advisors LLC raised its position in ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider's stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 worth $3,753,828,000 after purchasing an additional 78,378 shares during the period. Finally, Wellington Management Group LLP grew its position in ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider's stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their target price on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Needham & Company LLC lifted their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Raymond James initiated coverage on shares of ServiceNow in a research report on Tuesday, December 24th. They set an "outperform" rating and a $1,200.00 price objective for the company. KeyCorp lowered shares of ServiceNow from an "overweight" rating to a "sector weight" rating in a research note on Friday, December 13th. Finally, Piper Sandler raised their price objective on shares of ServiceNow from $1,000.00 to $1,200.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,129.72.

ServiceNow Stock Down 3.1 %

Shares of ServiceNow stock traded down $30.19 on Friday, hitting $937.79. 1,821,856 shares of the company's stock traded hands, compared to its average volume of 1,621,555. 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 firm's 50-day moving average is $1,058.36 and its 200 day moving average is $976.01. The stock has a market cap of $193.18 billion, a P/E ratio of 137.30, a PEG ratio of 4.60 and a beta of 0.99. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

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

ServiceNow declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Insider Activity at ServiceNow

In other news, CEO William R. Mcdermott sold 1,263 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,644,564.50. This trade represents a 32.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the sale, the insider now directly owns 3,027 shares of the company's stock, valued at approximately $3,080,123.85. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,806 shares of company stock valued at $16,065,122 over the last three months. 0.25% of the stock is owned by insiders.

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.