Caxton Associates LP Has $217,000 Holdings in ServiceNow, Inc. (NYSE:NOW)

Caxton Associates LP reduced its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 60.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205 shares of the information technology services provider's stock after selling 315 shares during the quarter. Caxton Associates LP's holdings in ServiceNow were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Baird Financial Group Inc. increased its stake in shares of ServiceNow by 2.5% in the fourth quarter. Baird Financial Group Inc. now owns 95,237 shares of the information technology services provider's stock valued at $100,963,000 after buying an additional 2,283 shares in the last quarter. Baker Avenue Asset Management LP raised its stake in shares of ServiceNow by 13.3% in the fourth quarter. Baker Avenue Asset Management LP now owns 1,851 shares of the information technology services provider's stock worth $1,962,000 after acquiring an additional 218 shares during the last quarter. Banque Transatlantique SA acquired a new position in shares of ServiceNow during the fourth quarter worth approximately $58,586,000. Banque de Luxembourg S.A. bought a new stake in shares of ServiceNow during the fourth quarter valued at approximately $255,000. Finally, Bearing Point Capital LLC acquired a new stake in shares of ServiceNow in the fourth quarter valued at approximately $329,000. 87.18% of the stock is owned by institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 1,263 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now owns 2,595 shares in the company, valued at $2,644,564.50. This represents a 32.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey A. Miller sold 2,282 shares of ServiceNow stock in a transaction that occurred on 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 approximately $41,883,148.32. The trade was a 5.32 % decrease in their ownership of the stock. 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. 0.38% of the stock is owned by company insiders.

ServiceNow Price Performance

Shares of NOW opened at $982.98 on Thursday. The firm has a market capitalization of $203.48 billion, a PE ratio of 143.92, a PEG ratio of 4.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. The company's 50-day moving average is $842.03 and its 200-day moving average is $969.22. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09.

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

ServiceNow announced that its board has authorized a stock buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have commented on the stock. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,003.00 target price on shares of ServiceNow in a report on Thursday, April 24th. Needham & Company LLC restated a "buy" rating and set a $1,050.00 target price on shares of ServiceNow in a report on Tuesday. Bank of America lowered their price target on ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Mizuho decreased their price objective 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. Finally, Evercore ISI lifted their price target on shares of ServiceNow from $925.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ServiceNow currently has an average rating of "Moderate Buy" and an average target price 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.

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