ServiceNow, Inc. (NYSE:NOW) Shares Bought by Alight Capital Management LP

Alight Capital Management LP increased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 42.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 10,000 shares of the information technology services provider's stock after acquiring an additional 3,000 shares during the period. ServiceNow makes up about 3.5% of Alight Capital Management LP's holdings, making the stock its 11th largest holding. Alight Capital Management LP's holdings in ServiceNow were worth $10,601,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of ServiceNow by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after buying an additional 190,430 shares during the period. Price T Rowe Associates Inc. MD grew its position in ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after acquiring an additional 509,467 shares in the last quarter. FMR LLC lifted its position in shares of ServiceNow by 4.9% during the fourth 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 in the last quarter. Geode Capital Management LLC grew 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 valued at $4,560,890,000 after purchasing an additional 100,670 shares in the last quarter. Finally, Norges Bank purchased a new stake in ServiceNow during the 4th quarter worth approximately $2,603,360,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling

In other news, CEO William R. Mcdermott sold 1,263 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total value of $1,287,123.30. Following the sale, the chief executive officer now directly owns 2,595 shares in the company, valued at $2,644,564.50. This represents a 32.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $940.23, for a total value of $562,257.54. Following the sale, the director now owns 428 shares of the company's stock, valued at approximately $402,418.44. This represents a 58.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,692 shares of company stock worth $18,173,444 in the last ninety days. Insiders own 0.38% of the company's stock.

ServiceNow Price Performance

Shares of NOW traded down $10.34 on Tuesday, reaching $967.71. The stock had a trading volume of 1,275,475 shares, compared to its average volume of 1,510,652. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The firm has a market capitalization of $200.32 billion, a PE ratio of 141.69, a PEG ratio of 4.51 and a beta of 1.08. The firm has a 50-day moving average of $840.02 and a 200 day moving average of $969.13. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. During the same period last year, the firm posted $3.41 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow declared that its Board of Directors has authorized a share 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 buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Tuesday. Stifel Nicolaus boosted their price objective on ServiceNow from $975.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Tuesday. Raymond James reduced their target price on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. Finally, Canaccord Genuity Group cut their price target on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ServiceNow has a consensus rating of "Moderate Buy" and an average target price of $1,041.48.

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.