Bokf Na Cuts Position in ServiceNow, Inc. (NYSE:NOW)

Bokf Na reduced its holdings in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,757 shares of the information technology services provider's stock after selling 1,363 shares during the quarter. Bokf Na's holdings in ServiceNow were worth $16,144,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Nordea Investment Management AB lifted its stake in shares of ServiceNow by 15.7% during the fourth quarter. Nordea Investment Management AB now owns 596,743 shares of the information technology services provider's stock worth $633,461,000 after purchasing an additional 81,180 shares in the last quarter. CWA Asset Management Group LLC raised its holdings in shares of ServiceNow by 3.2% during the 4th quarter. CWA Asset Management Group LLC now owns 3,605 shares of the information technology services provider's stock valued at $3,821,000 after buying an additional 113 shares during the period. Boltwood Capital Management purchased a new position in ServiceNow in the 4th quarter worth approximately $219,000. Neville Rodie & Shaw Inc. boosted its holdings in ServiceNow by 1.8% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 2,659 shares of the information technology services provider's stock worth $2,819,000 after acquiring an additional 47 shares during the period. Finally, Capital Market Strategies LLC raised its stake in shares of ServiceNow by 2.4% during the fourth quarter. Capital Market Strategies LLC now owns 1,048 shares of the information technology services provider's stock valued at $1,111,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $978.40 on Tuesday. The firm's 50 day moving average is $840.02 and its two-hundred day moving average is $969.13. The firm has a market capitalization of $202.53 billion, a P/E ratio of 143.25, a PEG ratio of 4.51 and a beta of 1.08. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09.

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

ServiceNow announced that its Board of Directors has authorized a share buyback program 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 purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Mizuho lowered their price target on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. William Blair reaffirmed an "outperform" rating on shares of ServiceNow in a research report on Friday, March 7th. Needham & Company LLC cut their price target on ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company raised their price objective on ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. 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 company. Based on data from MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and an average target price of $1,041.00.

Insider Activity at ServiceNow

In other news, insider Jacqueline P. Canney sold 292 shares of ServiceNow stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $3,080,123.85. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gina Mastantuono sold 4,442 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the completion of the sale, the chief financial officer now owns 11,126 shares of the company's stock, valued at approximately $10,733,252.20. This trade represents a 28.53 % decrease in their position. 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 ninety days. 0.38% of the stock is currently owned by corporate insiders.

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.

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