Voya Investment Management LLC Sells 8,730 Shares of ServiceNow, Inc. (NYSE:NOW)

Voya Investment Management LLC trimmed its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 976,370 shares of the information technology services provider's stock after selling 8,730 shares during the quarter. ServiceNow comprises about 1.1% of Voya Investment Management LLC's holdings, making the stock its 13th largest position. Voya Investment Management LLC owned 0.47% of ServiceNow worth $1,034,854,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NOW. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of ServiceNow by 0.9% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 22,810 shares of the information technology services provider's stock valued at $24,190,000 after buying an additional 212 shares during the period. RiverPark Advisors LLC grew its holdings in ServiceNow by 83.6% during the fourth quarter. RiverPark Advisors LLC now owns 4,054 shares of the information technology services provider's stock valued at $4,298,000 after purchasing an additional 1,846 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in ServiceNow by 3.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 187,600 shares of the information technology services provider's stock worth $198,879,000 after acquiring an additional 5,400 shares during the period. Coppell Advisory Solutions LLC boosted its holdings in ServiceNow by 3.2% in the 4th quarter. Coppell Advisory Solutions LLC now owns 518 shares of the information technology services provider's stock worth $551,000 after buying an additional 16 shares during the period. Finally, CSM Advisors LLC purchased a new stake in shares of ServiceNow during the fourth quarter worth about $224,000. 87.18% of the stock is currently owned by institutional investors.

Insider Activity at ServiceNow

In other news, Director Larry Quinlan sold 415 shares of the business's stock in a transaction that occurred 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 $1,749,871.17. The trade was a 19.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline P. Canney sold 354 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $804.61, for a total value of $284,831.94. Following the completion of the transaction, the insider now owns 3,027 shares in the company, valued at approximately $2,435,554.47. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,250 shares of company stock worth $19,853,273 over the last ninety days. Insiders own 0.38% of the company's stock.

ServiceNow Price Performance

Shares of NYSE NOW opened at $815.92 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The business's 50 day moving average price is $840.59 and its two-hundred day moving average price is $967.11. The company has a market cap of $168.90 billion, a PE ratio of 119.46, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $2.31 EPS for the quarter, missing analysts' consensus estimates of $3.78 by ($1.47). ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. On average, analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NOW shares. The Goldman Sachs Group reduced their price target on shares of ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Guggenheim reiterated a "sell" rating and issued a $716.00 price target on shares of ServiceNow in a report on Wednesday, April 16th. StockNews.com cut ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Royal Bank of Canada set a $986.00 price target on shares of ServiceNow in a report on Tuesday, March 11th. Finally, Canaccord Genuity Group dropped their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,021.43.

ServiceNow 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.

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