F M Investments LLC Has $30.70 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

F M Investments LLC lowered its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 27.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 28,958 shares of the information technology services provider's stock after selling 10,862 shares during the period. ServiceNow comprises about 1.1% of F M Investments LLC's investment portfolio, making the stock its 18th biggest position. F M Investments LLC's holdings in ServiceNow were worth $30,699,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Union Bancaire Privee UBP SA bought a new position in ServiceNow in the fourth quarter worth about $48,802,000. Dock Street Asset Management Inc. lifted its position in ServiceNow by 3.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider's stock valued at $35,147,000 after buying an additional 1,105 shares during the period. Cardano Risk Management B.V. bought a new position in shares of ServiceNow in the 4th quarter worth about $105,090,000. Rheos Capital Works Inc. bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $10,071,000. Finally, Czech National Bank grew its stake in shares of ServiceNow by 6.7% in the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider's stock worth $47,486,000 after buying an additional 2,829 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 0.8 %

NYSE NOW traded up $6.21 during trading on Monday, reaching $791.88. 627,186 shares of the company's stock were exchanged, compared to its average volume of 1,463,843. The company's fifty day simple moving average is $875.51 and its 200-day simple moving average is $973.89. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The firm has a market capitalization of $163.92 billion, a PE ratio of 115.94, a P/E/G ratio of 4.51 and a beta of 1.08.

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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 (EPS) for the quarter, meeting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has initiated a stock buyback 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Scotiabank reduced their price target on shares of ServiceNow from $1,230.00 to $1,050.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. The Goldman Sachs Group cut their price objective on ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating for the company in a research note on Thursday. Citigroup cut their price target on 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. Canaccord Genuity Group reissued a "buy" rating and issued a $1,275.00 price objective on shares of ServiceNow in a research note on Tuesday, March 11th. Finally, StockNews.com lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,068.76.

Insider Buying and Selling

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the business's stock in a transaction on 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 sale, the chief financial officer now owns 11,126 shares of the company's stock, valued at $10,733,252.20. The trade was a 28.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the firm's 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 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is owned by company insiders.

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.