ServiceNow, Inc. (NYSE:NOW) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its holdings in ServiceNow, Inc. (NYSE:NOW) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 372,251 shares of the information technology services provider’s stock after selling 3,787 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of ServiceNow worth $394,631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of ServiceNow by 2.6% in the 3rd quarter. State Street Corp now owns 9,077,547 shares of the information technology services provider’s stock worth $8,118,867,000 after buying an additional 226,023 shares during the period. FMR LLC increased its stake in ServiceNow by 9.9% during the third quarter. FMR LLC now owns 5,606,394 shares of the information technology services provider’s stock worth $5,014,302,000 after acquiring an additional 502,845 shares during the last quarter. World Investment Advisors LLC raised its holdings in shares of ServiceNow by 499,668.1% in the 3rd quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider’s stock worth $4,268,731,000 after purchasing an additional 4,771,830 shares during the period. Geode Capital Management LLC lifted its stake in shares of ServiceNow by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,211,901 shares of the information technology services provider’s stock valued at $3,753,828,000 after purchasing an additional 78,378 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of ServiceNow by 24.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,169,531 shares of the information technology services provider’s stock worth $2,834,797,000 after purchasing an additional 615,797 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other ServiceNow news, General Counsel Russell S. Elmer sold 81 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $1,016.54, for a total value of $82,339.74. Following the sale, the general counsel now directly owns 6,843 shares in the company, valued at approximately $6,956,183.22. This trade represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 313 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $1,064.60, for a total transaction of $333,219.80. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at $3,884,725.40. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,257 shares of company stock valued at $23,579,376. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

NOW has been the topic of a number of recent research reports. Sanford C. Bernstein lifted their price target on shares of ServiceNow from $906.00 to $913.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barclays raised their price objective on ServiceNow from $980.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $1,210.00 target price on shares of ServiceNow in a research report on Thursday, January 30th. Mizuho raised their target price on ServiceNow from $1,070.00 to $1,210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Cantor Fitzgerald began coverage on ServiceNow in a report on Friday, January 17th. They issued an “overweight” rating and a $1,332.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ServiceNow has a consensus rating of “Moderate Buy” and a consensus target price of $1,129.72.

ServiceNow Stock Down 0.4 %

NOW stock opened at $985.67 on Friday. The firm has a market cap of $203.05 billion, a price-to-earnings ratio of 144.31, a PEG ratio of 4.76 and a beta of 0.99. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09. The firm has a fifty day moving average price of $1,073.31 and a two-hundred day moving average price of $969.70. 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) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. Research analysts predict that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its board has approved a stock repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management 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.