ServiceNow, Inc. (NYSE:NOW) Shares Sold by Grace & Mercy Foundation Inc.

Grace & Mercy Foundation Inc. cut its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,300 shares of the information technology services provider's stock after selling 400 shares during the period. ServiceNow makes up 6.0% of Grace & Mercy Foundation Inc.'s investment portfolio, making the stock its 8th biggest holding. Grace & Mercy Foundation Inc.'s holdings in ServiceNow were worth $26,821,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $2,603,360,000. Proficio Capital Partners LLC grew its position in shares of ServiceNow by 154,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after purchasing an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in shares of ServiceNow in the fourth quarter valued at about $682,468,000. Price T Rowe Associates Inc. MD grew its position in shares of ServiceNow by 6.8% in the fourth 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. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of ServiceNow by 36.7% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock valued at $1,940,464,000 after purchasing an additional 491,861 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors.

Insider Activity at ServiceNow

In other ServiceNow news, CFO Gina Mastantuono sold 4,442 shares of the 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 transaction, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jacqueline P. Canney sold 257 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $985.00, for a total value of $253,145.00. Following the transaction, the insider now owns 3,027 shares of the company's stock, valued at approximately $2,981,595. This trade represents a 7.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,150 shares of company stock worth $16,550,424 in the last quarter. Corporate insiders own 0.38% of the company's stock.

ServiceNow Trading Up 0.7%

NOW stock traded up $6.64 during trading on Friday, hitting $981.13. The company had a trading volume of 919,297 shares, compared to its average volume of 1,516,226. The firm has a 50-day moving average price of $844.85 and a 200-day moving average price of $970.58. The stock has a market cap of $203.09 billion, a price-to-earnings ratio of 143.65, a PEG ratio of 4.51 and a beta of 0.97. ServiceNow, Inc. has a 12 month low of $637.99 and a 12 month high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15.

ServiceNow (NYSE:NOW - Get Free Report) last posted 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 company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the business posted $3.41 EPS. The firm's quarterly revenue was up 18.6% on a year-over-year basis. As a group, analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has approved 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 repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NOW shares. Citigroup raised their price target on ServiceNow from $1,128.00 to $1,160.00 and gave the company a "buy" rating in a research report on Wednesday. Barclays set a $1,085.00 price target on ServiceNow in a research report on Wednesday. Mizuho reduced their target price on shares of ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating for the company in a research note on Tuesday, March 11th. JMP Securities reiterated a "market outperform" rating and issued a $1,300.00 target price on shares of ServiceNow in a research note on Tuesday, May 6th. Finally, Canaccord Genuity Group cut their price target on ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. One research 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,055.83.

ServiceNow Company 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.