ServiceNow, Inc. (NYSE:NOW) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. decreased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,490 shares of the information technology services provider's stock after selling 335 shares during the period. Financial Counselors Inc.'s holdings in ServiceNow were worth $25,962,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. World Investment Advisors LLC grew its stake in shares of 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 worth $4,268,731,000 after acquiring an additional 4,771,830 shares during the period. Proficio Capital Partners LLC boosted its holdings in ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock worth $667,000 after purchasing an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in ServiceNow in the 4th quarter worth approximately $682,468,000. Wellington Management Group LLP lifted its holdings in shares of 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 valued at $2,834,797,000 after buying an additional 615,797 shares during the period. Finally, FMR LLC boosted its stake 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 worth $5,014,302,000 after buying an additional 502,845 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research firms have weighed in on NOW. Wells Fargo & Company increased their target price on 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 raised their price objective on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. UBS Group reduced their target price on shares of ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating for the company in a report on Tuesday, March 11th. Raymond James began coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They set an "outperform" rating and a $1,200.00 price target on the stock. Finally, TD Cowen raised their target price on ServiceNow from $1,025.00 to $1,300.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,093.76.

ServiceNow Trading Down 3.8 %

ServiceNow stock traded down $31.13 during mid-day trading on Friday, hitting $796.61. The company's stock had a trading volume of 1,758,174 shares, compared to its average volume of 1,408,303. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The stock has a market cap of $164.10 billion, a PE ratio of 116.63, a P/E/G ratio of 4.51 and a beta of 1.03. The company has a 50 day moving average of $950.30 and a 200-day moving average of $984.09. 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 announced its quarterly 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 return on equity of 17.11% and a net margin of 12.97%. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

Insider Activity

In related news, insider Jacqueline P. Canney sold 455 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Larry Quinlan sold 415 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $1,007.41, for a total value of $418,075.15. Following the transaction, the director now owns 1,737 shares in the company, valued at approximately $1,749,871.17. This trade represents a 19.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,351 shares of company stock worth $20,050,076. Company insiders own 0.25% of the company's stock.

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.