ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Fmr LLC

FMR LLC raised its position in ServiceNow, Inc. (NYSE:NOW - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,878,900 shares of the information technology services provider's stock after acquiring an additional 272,506 shares during the quarter. FMR LLC owned approximately 2.85% of ServiceNow worth $6,232,339,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of ServiceNow by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock worth $20,353,517,000 after buying an additional 190,430 shares during the last quarter. World Investment Advisors LLC boosted its stake in shares of ServiceNow by 499,668.1% during the third quarter. World Investment Advisors LLC now owns 4,772,785 shares of the information technology services provider's stock valued at $4,268,731,000 after purchasing an additional 4,771,830 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of ServiceNow by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock valued at $4,560,890,000 after buying an additional 100,670 shares during the period. Norges Bank acquired a new stake in ServiceNow during the 4th quarter worth approximately $2,603,360,000. Finally, Jennison Associates LLC raised its position in ServiceNow by 17.4% during the 4th quarter. Jennison Associates LLC now owns 2,352,111 shares of the information technology services provider's stock worth $2,493,520,000 after purchasing an additional 348,187 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

ServiceNow Stock Down 4.7 %

Shares of NOW traded down $38.44 during trading hours on Thursday, hitting $787.52. The company had a trading volume of 1,026,926 shares, compared to its average volume of 1,453,313. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,198.09. The company's fifty day moving average price is $884.76 and its two-hundred day moving average price is $974.96. The company has a market capitalization of $162.23 billion, a PE ratio of 114.21, a price-to-earnings-growth ratio of 4.51 and a beta of 1.08. 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 issued its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $3.67. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. As a group, equities analysts forecast 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 stock repurchase plan on Wednesday, January 29th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NOW shares. Piper Sandler lifted their target price on ServiceNow from $1,000.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Truist Financial lowered their price target on ServiceNow from $1,100.00 to $950.00 and set a "hold" rating for the company in a research report on Monday, March 31st. JMP Securities reiterated a "market outperform" rating and set a $1,300.00 price target on shares of ServiceNow in a report on Thursday, January 30th. Robert W. Baird reduced their target price on shares of ServiceNow from $1,200.00 to $1,010.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Finally, Guggenheim reiterated a "sell" rating and set a $716.00 target price on shares of ServiceNow in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,079.10.

Insiders Place Their Bets

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $923.72, for a total value 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 approximately $3,370,654.28. The trade was a 44.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline P. Canney sold 455 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the sale, the insider now directly owns 3,027 shares in the company, valued at $3,204,200.58. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,351 shares of company stock valued at $20,050,076. 0.25% of the stock is currently owned by insiders.

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.