Index Fund Advisors Inc. Takes $307,000 Position in ServiceNow, Inc. (NYSE:NOW)

Index Fund Advisors Inc. acquired a new stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 385 shares of the information technology services provider's stock, valued at approximately $307,000.

Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in ServiceNow by 1.5% during the fourth quarter. Janus Henderson Group PLC now owns 824,725 shares of the information technology services provider's stock worth $874,258,000 after buying an additional 12,533 shares during the period. FMR LLC lifted its position in ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after purchasing an additional 272,506 shares during the period. Nicholas Investment Partners LP lifted its position in ServiceNow by 223.5% during the fourth quarter. Nicholas Investment Partners LP now owns 2,805 shares of the information technology services provider's stock valued at $2,974,000 after purchasing an additional 1,938 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ServiceNow by 18.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 196,783 shares of the information technology services provider's stock worth $209,103,000 after acquiring an additional 31,125 shares during the period. Finally, Norges Bank acquired a new position in shares of ServiceNow in the fourth quarter worth about $2,603,360,000. Hedge funds and other institutional investors own 87.18% of the company's stock.

Analyst Ratings Changes

NOW has been the subject of several research reports. Raymond James Financial dropped their price objective on shares of ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley reaffirmed an "equal weight" rating on shares of ServiceNow in a research note on Tuesday. Barclays set a $1,085.00 price objective on shares of ServiceNow in a research note on Wednesday, May 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,048.00 price objective on shares of ServiceNow in a research note on Thursday, April 24th. Finally, Wall Street Zen cut shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,068.23.

Insider Activity at ServiceNow

In other ServiceNow news, CEO William R. Mcdermott sold 2,050 shares of ServiceNow stock in a transaction on Friday, May 30th. The shares were sold at an average price of $1,012.01, for a total value of $2,074,620.50. Following the transaction, the chief executive officer directly owned 6,614 shares in the company, valued at approximately $6,693,434.14. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Deborah Black sold 598 shares of ServiceNow stock in a transaction 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 owned 428 shares in the company, valued at approximately $402,418.44. This represents a 58.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,955 shares of company stock worth $6,862,195 in the last three months. Company insiders own 0.38% of the company's stock.

ServiceNow Stock Down 2.2%

ServiceNow stock traded down $21.06 during mid-day trading on Friday, reaching $947.03. 893,161 shares of the company's stock were exchanged, compared to its average volume of 1,478,129. The company has a market cap of $196.02 billion, a P/E ratio of 128.69, a P/E/G ratio of 4.66 and a beta of 0.94. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $1,008.88 and a 200-day moving average of $961.75.

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 analysts' consensus estimates of $3.78 by $0.26. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. ServiceNow had a net margin of 13.41% and a return on equity of 17.34%. The company's revenue was up 18.6% on a year-over-year basis. During the same period last year, the firm posted $3.41 EPS. Sell-side analysts expect that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow 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.