ServiceNow, Inc. (NYSE:NOW) Shares Sold by First Manhattan CO. LLC.

First Manhattan CO. LLC. decreased its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 31.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,463 shares of the information technology services provider's stock after selling 684 shares during the period. First Manhattan CO. LLC.'s holdings in ServiceNow were worth $1,551,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of NOW. Hudson Valley Investment Advisors Inc. ADV purchased a new position in ServiceNow during the 4th quarter worth $223,000. ORG Partners LLC grew its position in ServiceNow by 15.2% during the 4th quarter. ORG Partners LLC now owns 159 shares of the information technology services provider's stock worth $169,000 after purchasing an additional 21 shares during the last quarter. Hilltop National Bank grew its position in ServiceNow by 22.8% during the 4th quarter. Hilltop National Bank now owns 420 shares of the information technology services provider's stock worth $445,000 after purchasing an additional 78 shares during the last quarter. HBW Advisory Services LLC grew its position in ServiceNow by 13.2% during the 4th quarter. HBW Advisory Services LLC now owns 266 shares of the information technology services provider's stock worth $282,000 after purchasing an additional 31 shares during the last quarter. Finally, Czech National Bank grew its position in ServiceNow by 6.7% during the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider's stock worth $47,486,000 after purchasing an additional 2,829 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on NOW shares. Piper Sandler reduced their target price on shares of ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Morgan Stanley raised their target price on shares of ServiceNow from $881.00 to $950.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Cantor Fitzgerald restated an "overweight" rating and issued a $1,048.00 target price on shares of ServiceNow in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced their target price on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Bank of America reduced their target price on shares of ServiceNow from $1,280.00 to $1,025.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,055.83.

ServiceNow Trading Up 0.7%

Shares of NYSE NOW traded up $6.64 during midday trading on Friday, reaching $981.13. 919,297 shares of the stock were exchanged, compared to its average volume of 1,516,226. The company has a market capitalization of $203.09 billion, a P/E ratio of 143.65, a P/E/G ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 52-week low of $637.99 and a 52-week high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $844.85 and a 200-day moving average price of $970.58.

ServiceNow (NYSE:NOW - Get Free Report) last released its earnings results on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the firm earned $3.41 earnings per share. ServiceNow's revenue was up 18.6% compared to the same quarter last year. Equities research analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows 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 leadership believes its stock is undervalued.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 292 shares of ServiceNow stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $287,620.00. Following the transaction, the chief financial officer now directly owns 11,198 shares of the company's stock, valued at $11,030,030. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jacqueline P. Canney sold 257 shares of ServiceNow stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $253,145.00. Following the transaction, the insider now directly owns 3,027 shares in the company, valued at approximately $2,981,595. This trade represents a 7.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,150 shares of company stock worth $16,550,424. 0.38% of the stock is owned by company 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.