Nebula Research & Development LLC Sells 427 Shares of ServiceNow, Inc. (NYSE:NOW)

Nebula Research & Development LLC decreased its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 50.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 417 shares of the information technology services provider's stock after selling 427 shares during the quarter. Nebula Research & Development LLC's holdings in ServiceNow were worth $442,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of ServiceNow in the 3rd quarter worth about $9,833,000. Anchor Investment Management LLC grew its position in shares of ServiceNow by 6.1% in the 3rd quarter. Anchor Investment Management LLC now owns 1,364 shares of the information technology services provider's stock worth $1,220,000 after acquiring an additional 78 shares in the last quarter. Stock Yards Bank & Trust Co. bought a new stake in shares of ServiceNow in the 3rd quarter valued at approximately $202,000. World Investment Advisors LLC boosted its holdings in ServiceNow by 585.8% in the third quarter. World Investment Advisors LLC now owns 6,549 shares of the information technology services provider's stock worth $5,857,000 after purchasing an additional 5,594 shares during the period. Finally, Sfmg LLC bought a new stake in ServiceNow during the third quarter valued at $226,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NOW. Needham & Company LLC lowered their price objective on shares of ServiceNow from $1,200.00 to $1,050.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Citigroup cut their price target on ServiceNow from $1,426.00 to $1,082.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Erste Group Bank raised ServiceNow from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Redburn Atlantic started coverage on shares of ServiceNow in a report on Wednesday, February 19th. They set a "buy" rating for the company. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,041.00.

ServiceNow Stock Up 2.0 %

Shares of NOW traded up $19.29 during midday trading on Friday, reaching $977.24. 1,667,831 shares of the stock were exchanged, compared to its average volume of 1,512,244. The company has a market cap of $202.29 billion, a price-to-earnings ratio of 143.08, a P/E/G ratio of 4.51 and a beta of 1.08. 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, Inc. has a 12-month low of $637.99 and a 12-month high of $1,198.09. The firm has a 50 day simple moving average of $839.29 and a 200-day simple moving average of $968.04.

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

ServiceNow announced that its Board of Directors has authorized a stock buyback program 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Insider Transactions at ServiceNow

In related news, insider Jacqueline P. Canney sold 292 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total transaction of $297,124.60. Following the completion of the transaction, the insider now directly owns 3,027 shares in the company, valued at $3,080,123.85. This represents a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Gina Mastantuono sold 4,442 shares of the business's 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 transaction, the chief financial officer now owns 11,126 shares in the company, valued at approximately $10,733,252.20. The trade was a 28.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,618 shares of company stock worth $21,132,878. 0.38% of the stock is 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.