ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,199,258 shares of the information technology services provider's stock after buying an additional 190,430 shares during the quarter. Vanguard Group Inc. owned 9.32% of ServiceNow worth $20,353,517,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Atala Financial Inc acquired a new position in ServiceNow during the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA acquired a new stake in ServiceNow during the 4th quarter worth about $32,000. Noble Wealth Management PBC purchased a new position in shares of ServiceNow during the 4th quarter valued at about $34,000. Truvestments Capital LLC acquired a new position in shares of ServiceNow in the 3rd quarter valued at about $30,000. Finally, FPC Investment Advisory Inc. boosted its stake in shares of ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after buying an additional 29 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NOW has been the subject of a number of analyst reports. UBS Group decreased their price target on ServiceNow from $1,250.00 to $1,000.00 and set a "buy" rating for the company in a report on Tuesday, March 11th. Royal Bank of Canada set a $986.00 target price on shares of ServiceNow in a research note on Tuesday, March 11th. William Blair restated an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. StockNews.com lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Finally, Oppenheimer raised their target price 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,093.76.

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Insider Buying and Selling at ServiceNow

In related news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the transaction, the insider now owns 3,649 shares of the company's stock, valued at approximately $3,370,654.28. This represents a 44.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares in the company, valued at $10,733,252.20. This trade represents a 28.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,351 shares of company stock worth $20,050,076 over the last three months. Insiders own 0.25% of the company's stock.

ServiceNow Trading Down 1.2 %

NOW stock traded down $9.82 during midday trading on Thursday, hitting $828.73. 1,478,924 shares of the company's stock were exchanged, compared to its average volume of 1,356,883. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. 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 stock has a market capitalization of $170.72 billion, a PE ratio of 121.34, a P/E/G ratio of 4.51 and a beta of 1.03. The business has a 50-day simple moving average of $955.81 and a two-hundred day simple moving average of $983.64.

ServiceNow (NYSE:NOW - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, sell-side analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow announced that its Board of Directors has authorized a stock repurchase program 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

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.