Rhumbline Advisers Has $394.63 Million Holdings in ServiceNow, Inc. (NYSE:NOW)

Rhumbline Advisers lowered its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 372,251 shares of the information technology services provider's stock after selling 3,787 shares during the quarter. Rhumbline Advisers owned about 0.18% of ServiceNow worth $394,631,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new position in shares of ServiceNow during the third quarter valued at approximately $30,000. DT Investment Partners LLC grew its holdings in shares of ServiceNow by 77.3% during the third quarter. DT Investment Partners LLC now owns 39 shares of the information technology services provider's stock valued at $35,000 after purchasing an additional 17 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $37,000. Stonebridge Financial Group LLC bought a new position in shares of ServiceNow during the fourth quarter valued at approximately $37,000. Finally, Oakworth Capital Inc. grew its holdings in shares of ServiceNow by 46.7% during the third quarter. Oakworth Capital Inc. now owns 44 shares of the information technology services provider's stock valued at $39,000 after purchasing an additional 14 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NYSE:NOW traded up $9.34 on Tuesday, reaching $995.97. 1,670,884 shares of the company traded hands, compared to its average volume of 1,640,873. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company's 50 day moving average is $1,067.83 and its 200-day moving average is $974.54. The stock has a market capitalization of $205.17 billion, a PE ratio of 145.82, a P/E/G ratio of 4.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 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%. As a group, analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

Insider Activity at ServiceNow

In related news, Director Larry Quinlan sold 415 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $1,010.46, for a total transaction of $419,340.90. Following the transaction, the director now directly owns 1,322 shares of the company's stock, valued at approximately $1,335,828.12. The trade was a 23.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the company's stock in a transaction on 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 $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,811 shares of company stock valued at $11,159,073. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Stifel Nicolaus upped their target price on ServiceNow from $900.00 to $990.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Scotiabank assumed coverage on ServiceNow in a report on Tuesday, November 19th. They set a "sector outperform" rating and a $1,230.00 target price for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $1,210.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. Needham & Company LLC increased their price objective on ServiceNow from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Finally, JMP Securities reissued a "market outperform" rating and issued a $1,300.00 price objective on shares of ServiceNow in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,129.72.

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.