ServiceNow, Inc. (NYSE:NOW) Shares Bought by Baird Financial Group Inc.

Baird Financial Group Inc. lifted its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,237 shares of the information technology services provider's stock after purchasing an additional 2,283 shares during the period. Baird Financial Group Inc.'s holdings in ServiceNow were worth $100,963,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NOW. Quarry LP bought a new position in ServiceNow in the 4th quarter worth about $27,000. Atala Financial Inc purchased a new stake in shares of ServiceNow in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new position in ServiceNow in the fourth quarter worth approximately $32,000. FPC Investment Advisory Inc. increased its holdings in ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 29 shares during the period. Finally, Noble Wealth Management PBC bought a new stake in ServiceNow during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

NYSE NOW traded up $17.72 during trading hours on Wednesday, reaching $982.98. The company's stock had a trading volume of 1,729,532 shares, compared to its average volume of 1,512,662. The firm has a market capitalization of $203.48 billion, a price-to-earnings ratio of 143.92, a P/E/G ratio of 4.51 and a beta of 0.97. The company's 50-day moving average is $840.96 and its two-hundred day moving average is $969.12. 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 1-year low of $637.99 and a 1-year high of $1,198.09.

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

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

Insider Activity

In other ServiceNow news, Director Deborah Black sold 598 shares of the firm's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $940.23, for a total value of $562,257.54. Following the transaction, the director now owns 428 shares in the company, valued at approximately $402,418.44. This trade represents a 58.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey A. Miller sold 2,282 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $1,030.64, for a total transaction of $2,351,920.48. Following the completion of the sale, the director now owns 40,638 shares of the company's stock, valued at $41,883,148.32. This trade represents a 5.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,692 shares of company stock worth $18,173,444 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NOW has been the topic of a number of recent research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $1,048.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. BMO Capital Markets dropped their target price on shares of ServiceNow from $990.00 to $950.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird boosted their price target on shares of ServiceNow from $1,010.00 to $1,150.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Truist Financial upgraded shares of ServiceNow from a "hold" rating to a "buy" rating and increased their price objective for the company from $950.00 to $1,200.00 in a research note on Thursday, May 1st. Finally, Canaccord Genuity Group reduced their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,048.55.

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.