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

Virtu Financial LLC lessened its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 31.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,517 shares of the information technology services provider's stock after selling 3,477 shares during the quarter. ServiceNow comprises 0.4% of Virtu Financial LLC's portfolio, making the stock its 27th biggest holding. Virtu Financial LLC's holdings in ServiceNow were worth $7,968,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Polymer Capital Management HK LTD boosted its stake in ServiceNow by 57.0% during the third quarter. Polymer Capital Management HK LTD now owns 2,701 shares of the information technology services provider's stock worth $2,416,000 after buying an additional 981 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of ServiceNow during the 4th quarter worth about $48,802,000. Dock Street Asset Management Inc. grew its holdings in ServiceNow by 3.4% during the 4th 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 purchasing an additional 1,105 shares during the last quarter. Cardano Risk Management B.V. purchased a new stake in ServiceNow in the 4th quarter worth about $105,090,000. Finally, Rheos Capital Works Inc. purchased a new stake in ServiceNow in the 4th quarter worth about $10,071,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Down 2.7 %

ServiceNow stock traded down $22.84 during midday trading on Wednesday, reaching $838.54. The company's stock had a trading volume of 1,348,294 shares, compared to its average volume of 1,354,518. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $172.74 billion, a P/E ratio of 122.77, a PEG ratio of 4.51 and a beta of 1.03. The stock's 50-day simple moving average is $964.71 and its 200-day simple moving average is $985.75. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09.

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ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results 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%. On average, sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has authorized a share buyback program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow 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 completion of the sale, the chief financial officer now owns 11,126 shares of the company's stock, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $1,058.54, for a total value of $481,635.70. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,204,200.58. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,351 shares of company stock worth $20,050,076. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NOW shares. Oppenheimer increased their price target on ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Piper Sandler increased their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Needham & Company LLC boosted their target price on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. The Goldman Sachs Group raised their price target on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Finally, Raymond James assumed coverage on shares of ServiceNow in a research note on Tuesday, December 24th. They issued an "outperform" rating and a $1,200.00 target price on the stock. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,093.76.

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.