AQR Capital Management LLC Has $238.01 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

AQR Capital Management LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 40.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 224,508 shares of the information technology services provider's stock after buying an additional 64,737 shares during the quarter. AQR Capital Management LLC owned approximately 0.11% of ServiceNow worth $238,005,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NOW. Northern Trust Corp boosted its position in shares of ServiceNow by 15.9% in the fourth quarter. Northern Trust Corp now owns 2,259,591 shares of the information technology services provider's stock worth $2,395,438,000 after acquiring an additional 309,273 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of ServiceNow by 3.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 184,745 shares of the information technology services provider's stock worth $195,860,000 after purchasing an additional 6,232 shares in the last quarter. Insight Holdings Group LLC increased its stake in shares of ServiceNow by 759.5% in the fourth quarter. Insight Holdings Group LLC now owns 31,800 shares of the information technology services provider's stock worth $33,712,000 after buying an additional 28,100 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of ServiceNow in the fourth quarter worth $642,000. Finally, Quarry LP bought a new stake in shares of ServiceNow in the fourth quarter worth $27,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Deborah Black sold 598 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $940.23, for a total transaction of $562,257.54. Following the completion of the transaction, the director now directly owns 428 shares of the company's stock, valued at $402,418.44. This trade represents a 58.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Chadwick sold 770 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $931.62, for a total transaction of $717,347.40. Following the completion of the transaction, the director now directly owns 3,205 shares of the company's stock, valued at $2,985,842.10. This represents a 19.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,618 shares of company stock valued at $21,132,878. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on NOW shares. Barclays set a $969.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. Stifel Nicolaus set a $975.00 price target on ServiceNow and gave the company a "buy" rating in a report on Thursday, April 24th. Piper Sandler lowered their price objective on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group decreased their price target on shares of ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Finally, Oppenheimer lifted their price target on shares of ServiceNow from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirty have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,041.00.

ServiceNow Trading Up 0.4 %

Shares of NYSE NOW traded up $3.87 during midday trading on Thursday, hitting $958.88. The stock had a trading volume of 1,804,941 shares, compared to its average volume of 1,510,203. 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, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company's 50-day simple moving average is $838.19 and its 200 day simple moving average is $967.70. The firm has a market cap of $198.49 billion, a P/E ratio of 140.39, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the firm earned $3.41 earnings per share. The firm's quarterly revenue was up 18.6% compared to the same quarter last year. Research analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in 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 plans are generally a sign that the company's board of directors believes its stock is 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.