ServiceNow, Inc. (NYSE:NOW) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,110 shares of the information technology services provider's stock after selling 262 shares during the period. USS Investment Management Ltd's holdings in ServiceNow were worth $35,092,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOW. Quarry LP purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $27,000. Atala Financial Inc purchased a new stake in ServiceNow in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA purchased a new stake in ServiceNow in the 4th quarter worth approximately $32,000. FPC Investment Advisory Inc. grew its stake in ServiceNow by 725.0% in 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 during the period. Finally, Noble Wealth Management PBC purchased a new stake in ServiceNow in the 4th quarter worth approximately $34,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $923.72, for a total transaction of $2,720,355.40. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company's stock, valued at $3,370,654.28. The trade was a 44.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 11,126 shares in the company, 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 10,061 shares of company stock worth $9,515,766 over the last ninety days. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $1,100.00 price objective (up previously from $970.00) on shares of ServiceNow in a research note on Tuesday, May 6th. Truist Financial raised shares of ServiceNow from a "hold" rating to a "buy" rating and upped their price objective for the company from $950.00 to $1,200.00 in a research note on Thursday, May 1st. Guggenheim raised their price objective on ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a report on Thursday, April 24th. Wells Fargo & Company boosted their target price on ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, Wall Street Zen lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,062.50.

ServiceNow Stock Performance

NOW traded up $0.98 during trading hours on Thursday, hitting $1,015.74. 855,696 shares of the stock were exchanged, compared to its average volume of 1,525,839. The stock has a 50-day simple moving average of $874.78 and a 200-day simple moving average of $974.74. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The stock has a market cap of $210.26 billion, a price-to-earnings ratio of 148.72, 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.

ServiceNow (NYSE:NOW - Get Free Report) last announced 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 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 business posted $3.41 earnings per share. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. Analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has initiated 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 buy up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

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.