Ensign Peak Advisors Inc Trims Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Ensign Peak Advisors Inc trimmed its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 382,814 shares of the information technology services provider's stock after selling 74,534 shares during the period. ServiceNow accounts for 0.7% of Ensign Peak Advisors Inc's holdings, making the stock its 21st largest position. Ensign Peak Advisors Inc owned 0.19% of ServiceNow worth $405,829,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Quarry LP bought a new position in shares of ServiceNow in the fourth quarter worth $27,000. Atala Financial Inc acquired a new position in shares of ServiceNow in the 4th quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow during the 4th quarter worth approximately $32,000. FPC Investment Advisory Inc. boosted its position in shares of 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 acquiring an additional 29 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in ServiceNow during the fourth quarter worth $34,000. 87.18% of the stock is currently owned by institutional investors.

ServiceNow Stock Up 0.7 %

Shares of NYSE:NOW traded up $6.64 during midday trading on Friday, hitting $981.13. 919,297 shares of the company's stock were exchanged, compared to its average volume of 1,516,226. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a market cap of $203.09 billion, a PE ratio of 143.65, a price-to-earnings-growth 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 stock has a 50 day moving average price of $844.85 and a 200-day moving average price of $970.48.

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 (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 company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the previous year, the firm earned $3.41 earnings per share. ServiceNow's quarterly revenue was up 18.6% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a stock repurchase plan 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Insider Transactions at ServiceNow

In related news, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction on Friday, April 25th. The stock was sold at an average price of $940.23, for a total transaction of $562,257.54. Following the sale, the director now directly owns 428 shares in the company, valued at approximately $402,418.44. This trade represents a 58.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 257 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total value of $253,145.00. Following the completion of the transaction, the insider now owns 3,027 shares of the company's stock, valued at $2,981,595. This trade represents a 7.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,150 shares of company stock worth $16,550,424 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. The Goldman Sachs Group restated a "buy" rating on shares of ServiceNow in a research report on Thursday, April 24th. StockNews.com downgraded shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Canaccord Genuity Group lowered 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 report on Tuesday, April 22nd. Evercore ISI increased their price target on ServiceNow from $925.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and an average target price of $1,048.55.

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.