Thornburg Investment Management Inc. Sells 291 Shares of ServiceNow, Inc. (NYSE:NOW)

Thornburg Investment Management Inc. lowered its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,160 shares of the information technology services provider's stock after selling 291 shares during the period. Thornburg Investment Management Inc.'s holdings in ServiceNow were worth $6,530,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NOW. Quarry LP bought a new stake in ServiceNow in the fourth quarter worth about $27,000. Atala Financial Inc bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of ServiceNow in the 4th quarter worth approximately $32,000. FPC Investment Advisory Inc. lifted its stake in ServiceNow by 725.0% in the fourth quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock valued at $34,000 after purchasing an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new position in ServiceNow during the fourth quarter valued at $34,000. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Up 0.5%

NOW opened at $1,040.22 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The business's fifty day simple moving average is $863.52 and its 200 day simple moving average is $973.27. ServiceNow, Inc. has a 52 week low of $637.99 and a 52 week high of $1,198.09. The stock has a market cap of $215.33 billion, a PE ratio of 152.30, a P/E/G ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The company's revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.41 EPS. As a group, research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In related news, General Counsel Russell S. Elmer sold 1,023 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $988.00, for a total transaction of $1,010,724.00. Following the completion of the sale, the general counsel now directly owns 4,332 shares in the company, valued at $4,280,016. This represents a 19.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total value of $67,518.00. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,096,621. This trade represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,872 shares of company stock valued at $13,261,400. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on NOW shares. JMP Securities reaffirmed a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,048.00 price objective on shares of ServiceNow in a report on Thursday, April 24th. BMO Capital Markets increased their target price on shares of ServiceNow from $1,025.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Wednesday. Needham & Company LLC reissued a "buy" rating and issued a $1,050.00 price target on shares of ServiceNow in a research report on Tuesday, May 6th. Finally, Mizuho cut 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

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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