American Century Companies Inc. Sells 2,244 Shares of ServiceNow, Inc. (NYSE:NOW)

American Century Companies Inc. decreased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 223,659 shares of the information technology services provider's stock after selling 2,244 shares during the quarter. American Century Companies Inc. owned 0.11% of ServiceNow worth $237,105,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp lifted its position in shares of ServiceNow by 2.6% during the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider's stock worth $8,118,867,000 after buying an additional 226,023 shares during the period. FMR LLC increased its position in shares of ServiceNow by 9.9% during the 3rd quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider's stock worth $5,014,302,000 after purchasing an additional 502,845 shares in the last quarter. World Investment Advisors LLC boosted its position in ServiceNow by 499,668.1% in the third 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 buying an additional 4,771,830 shares in the last quarter. Geode Capital Management LLC boosted its position in ServiceNow by 1.9% in the third 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 buying an additional 78,378 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in ServiceNow by 24.1% during the third 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 buying an additional 615,797 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

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ServiceNow Stock Down 1.2 %

Shares of NYSE NOW traded down $9.82 during mid-day trading on Thursday, hitting $828.73. The company had a trading volume of 1,478,924 shares, compared to its average volume of 1,357,060. 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 firm has a 50-day simple moving average of $960.38 and a two-hundred day simple moving average of $984.72. The company has a market capitalization of $170.72 billion, a PE ratio of 121.34, 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.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly 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 declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of ServiceNow 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value of $2,720,355.40. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,370,654.28. This represents a 44.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,351 shares of company stock worth $20,050,076. Company insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NOW shares. Wells Fargo & Company boosted their price objective on ServiceNow from $1,150.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Citigroup dropped their target price on shares of ServiceNow from $1,432.00 to $1,426.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Oppenheimer increased their price objective 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. Redburn Atlantic initiated coverage on ServiceNow in a report on Wednesday, February 19th. They issued a "buy" rating on the stock. Finally, Truist Financial boosted their price objective on ServiceNow from $900.00 to $1,100.00 and gave the stock a "hold" rating in a report on Thursday, December 12th. One research 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. According to data from MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and a consensus target price of $1,093.76.

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.