ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Vident Advisory LLC

Vident Advisory LLC increased its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 71.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,283 shares of the information technology services provider's stock after buying an additional 5,937 shares during the period. Vident Advisory LLC's holdings in ServiceNow were worth $15,142,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NOW. Avidian Wealth Enterprises LLC increased its stake in ServiceNow by 1.8% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 497 shares of the information technology services provider's stock worth $527,000 after purchasing an additional 9 shares during the period. Institute for Wealth Management LLC. increased its stake in ServiceNow by 0.4% during the fourth quarter. Institute for Wealth Management LLC. now owns 2,622 shares of the information technology services provider's stock worth $2,779,000 after purchasing an additional 11 shares during the period. TBH Global Asset Management LLC increased its stake in ServiceNow by 3.8% during the fourth quarter. TBH Global Asset Management LLC now owns 302 shares of the information technology services provider's stock worth $320,000 after purchasing an additional 11 shares during the period. Onefund LLC increased its stake in ServiceNow by 2.0% during the fourth quarter. Onefund LLC now owns 552 shares of the information technology services provider's stock worth $585,000 after purchasing an additional 11 shares during the period. Finally, Cassady Schiller Wealth Management LLC increased its stake in ServiceNow by 44.0% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 36 shares of the information technology services provider's stock worth $38,000 after purchasing an additional 11 shares during the period. Hedge funds and other institutional investors own 87.18% of the company's stock.

ServiceNow Price Performance

Shares of NOW stock traded down $5.76 during mid-day trading on Wednesday, reaching $1,016.08. The stock had a trading volume of 1,258,790 shares, compared to its average volume of 1,525,797. 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 $210.33 billion, a P/E ratio of 148.77, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The business has a 50-day simple moving average of $871.37 and a 200 day simple moving average of $974.45. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter last year, the business posted $3.41 earnings per share. The business's revenue for the quarter was up 18.6% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow announced that its board has approved a stock repurchase plan on Wednesday, January 29th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. StockNews.com lowered shares of ServiceNow from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Wells Fargo & Company upped their target price on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a research note 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 research note on Tuesday, May 6th. Mizuho cut their target price on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $1,300.00 price target on shares of ServiceNow in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,062.50.

Insider Buying and Selling

In related news, CFO Gina Mastantuono sold 4,442 shares of ServiceNow stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $964.70, for a total transaction of $4,285,197.40. Following the completion of the sale, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline P. Canney sold 66 shares of ServiceNow stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $1,023.00, for a total value of $67,518.00. Following the completion of the sale, the insider now owns 3,027 shares of the company's stock, valued at $3,096,621. This trade represents a 2.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,061 shares of company stock worth $9,515,766. 0.38% of the stock is owned by corporate insiders.

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.