Treasurer of the State of North Carolina Buys 598 Shares of ServiceNow, Inc. (NYSE:NOW)

Treasurer of the State of North Carolina grew its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,707 shares of the information technology services provider's stock after buying an additional 598 shares during the quarter. Treasurer of the State of North Carolina's holdings in ServiceNow were worth $103,581,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of ServiceNow by 1.0% during 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 purchasing an additional 190,430 shares during the period. FMR LLC boosted its stake in ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after buying an additional 272,506 shares in the last quarter. Geode Capital Management LLC grew its holdings in ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after acquiring an additional 100,670 shares during the period. Norges Bank bought a new stake in ServiceNow in the fourth quarter worth about $2,603,360,000. Finally, Jennison Associates LLC lifted its holdings in ServiceNow by 17.4% in the 4th quarter. Jennison Associates LLC now owns 2,352,111 shares of the information technology services provider's stock valued at $2,493,520,000 after acquiring an additional 348,187 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at ServiceNow

In other ServiceNow news, insider Jacqueline P. Canney sold 292 shares of the business's stock in a transaction on 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 completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at $3,080,123.85. The trade was a 8.80 % 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 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 completion of the sale, the chief financial officer now directly owns 11,126 shares in the company, valued at approximately $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. Over the last three months, insiders sold 20,351 shares of company stock worth $20,050,076. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of ServiceNow from $950.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Mizuho cut their target price on ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Oppenheimer increased their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. BMO Capital Markets reduced their price objective on shares of ServiceNow from $1,185.00 to $990.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Finally, Royal Bank of Canada set a $986.00 price target on shares of ServiceNow in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,068.76.

ServiceNow Stock Up 1.2 %

Shares of NYSE:NOW traded up $9.24 on Monday, reaching $794.91. The company had a trading volume of 767,960 shares, compared to its average volume of 1,464,322. The stock has a market capitalization of $164.55 billion, a P/E ratio of 116.39, a P/E/G ratio of 4.51 and a beta of 1.08. The stock has a 50-day moving average price of $875.51 and a 200 day moving average price of $973.89. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month 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.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results 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 return on equity of 17.11% and a net margin of 12.97%. On average, equities analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has initiated a stock repurchase program on Wednesday, January 29th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management 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.