Gotham Asset Management LLC Has $14.89 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Gotham Asset Management LLC lessened its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 11.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,049 shares of the information technology services provider's stock after selling 1,797 shares during the quarter. Gotham Asset Management LLC's holdings in ServiceNow were worth $14,894,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in 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 in the last quarter. Price T Rowe Associates Inc. MD raised its stake in ServiceNow by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock valued at $8,434,235,000 after purchasing an additional 509,467 shares during the last quarter. FMR LLC raised its stake in ServiceNow by 4.9% in the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after purchasing an additional 272,506 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ServiceNow by 2.4% in the 4th 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 purchasing an additional 100,670 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of ServiceNow during the fourth quarter worth about $2,603,360,000. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

ServiceNow Stock Up 1.5%

Shares of NOW traded up $15.29 during trading hours on Tuesday, reaching $1,030.89. The company's stock had a trading volume of 270,714 shares, compared to its average volume of 1,511,190. The company has a 50 day moving average of $846.83 and a two-hundred day moving average of $971.03. 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 firm has a market cap of $213.39 billion, a price-to-earnings ratio of 151.07, a P/E/G ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 1-year low of $637.99 and a 1-year high of $1,198.09.

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

ServiceNow declared that its board has initiated a share repurchase plan on Wednesday, January 29th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other ServiceNow news, Vice Chairman Nicholas Tzitzon sold 2,945 shares of ServiceNow stock in a transaction on 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 sale, the insider now owns 3,649 shares in the company, valued at $3,370,654.28. The trade was a 44.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Russell S. Elmer sold 1,023 shares of ServiceNow stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $988.00, for a total transaction of $1,010,724.00. Following the sale, the general counsel now owns 4,332 shares in the company, valued at approximately $4,280,016. This trade represents a 19.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,844 shares of company stock valued at $14,204,938 in the last quarter. Insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

NOW has been the subject of a number of recent analyst reports. Citigroup boosted their target price on shares of ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. TD Securities reissued a "buy" rating and set a $1,100.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Piper Sandler cut their price objective on ServiceNow from $1,200.00 to $1,120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. JMP Securities reiterated a "market outperform" rating and set a $1,300.00 target price on shares of ServiceNow in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of ServiceNow from $1,200.00 to $970.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ServiceNow has an average rating of "Moderate Buy" and an average price target of $1,055.83.

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.