Winslow Capital Management LLC Sells 24,402 Shares of ServiceNow, Inc. (NYSE:NOW)

Winslow Capital Management LLC trimmed its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 522,953 shares of the information technology services provider's stock after selling 24,402 shares during the quarter. ServiceNow accounts for approximately 2.0% of Winslow Capital Management LLC's holdings, making the stock its 15th largest position. Winslow Capital Management LLC owned approximately 0.25% of ServiceNow worth $554,393,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOW. Vanguard Group Inc. lifted its holdings in ServiceNow by 1.0% in the fourth 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 acquiring an additional 190,430 shares during the period. FMR LLC lifted its stake in shares of ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after purchasing an additional 272,506 shares during the period. Geode Capital Management LLC boosted its holdings in shares of ServiceNow by 2.4% in 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 buying an additional 100,670 shares during the last quarter. Norges Bank bought a new stake in ServiceNow during the fourth quarter valued at approximately $2,603,360,000. Finally, Jennison Associates LLC increased its holdings in ServiceNow by 17.4% during the fourth 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 buying an additional 348,187 shares during the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

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ServiceNow Price Performance

Shares of NOW stock traded up $2.29 on Friday, reaching $785.78. The company's stock had a trading volume of 2,102,410 shares, compared to its average volume of 1,466,980. The stock's fifty day simple moving average is $875.51 and its 200-day simple moving average is $973.89. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year high of $1,198.09. The company has a market capitalization of $162.66 billion, a price-to-earnings ratio of 115.05, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. 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 (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 EPS for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Analysts forecast that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its board has approved a share repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In related 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 transaction of $1,287,123.30. Following the completion of the transaction, the chief executive officer now directly owns 2,595 shares of the company's stock, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacqueline P. Canney sold 292 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the sale, the insider now directly owns 3,027 shares in the company, valued at $3,080,123.85. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 over the last ninety days. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NOW has been the topic of several analyst reports. StockNews.com cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Canaccord Genuity Group reiterated a "buy" rating and set a $1,275.00 target price on shares of ServiceNow in a research report on Tuesday, March 11th. Redburn Atlantic began coverage on ServiceNow in a research report on Wednesday, February 19th. They issued a "buy" rating for the company. BMO Capital Markets lowered their price objective on ServiceNow from $1,185.00 to $990.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Finally, Robert W. Baird cut their price objective on ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. One equities 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 MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and a consensus target price of $1,073.93.

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.