Russell Investments Group Ltd. Has $209.09 Million Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Russell Investments Group Ltd. lessened its stake in ServiceNow, Inc. (NYSE:NOW - Free Report) by 2.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 296,114 shares of the information technology services provider's stock after selling 6,321 shares during the period. Russell Investments Group Ltd. owned 0.14% of ServiceNow worth $209,090,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in ServiceNow by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,753,781 shares of the information technology services provider's stock valued at $9,923,653,000 after acquiring an additional 122,577 shares during the last quarter. FMR LLC lifted its holdings in ServiceNow by 17.3% in the 3rd quarter. FMR LLC now owns 4,036,796 shares of the information technology services provider's stock valued at $2,256,407,000 after acquiring an additional 595,697 shares during the last quarter. Jennison Associates LLC lifted its holdings in ServiceNow by 2.2% in the 4th quarter. Jennison Associates LLC now owns 2,521,190 shares of the information technology services provider's stock valued at $1,781,195,000 after acquiring an additional 53,719 shares during the last quarter. Northern Trust Corp lifted its holdings in ServiceNow by 1.8% in the 3rd quarter. Northern Trust Corp now owns 2,202,293 shares of the information technology services provider's stock valued at $1,230,994,000 after acquiring an additional 39,259 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in ServiceNow by 3.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,200,720 shares of the information technology services provider's stock valued at $1,230,114,000 after acquiring an additional 72,570 shares during the last quarter. Institutional investors own 87.18% of the company's stock.

Analyst Upgrades and Downgrades

NOW has been the subject of a number of analyst reports. Oppenheimer upped their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the company an "outperform" rating in a research note on Thursday, January 18th. KeyCorp reduced their price objective on shares of ServiceNow from $1,000.00 to $950.00 and set an "overweight" rating for the company in a research note on Thursday. Royal Bank of Canada upped their price objective on shares of ServiceNow from $840.00 to $850.00 and gave the company an "outperform" rating in a research note on Thursday, January 25th. UBS Group reduced their price objective on shares of ServiceNow from $920.00 to $875.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Morgan Stanley increased their price target on shares of ServiceNow from $814.00 to $830.00 and gave the stock an "overweight" rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $782.85.

ServiceNow Stock Performance

NOW stock traded up $7.30 during midday trading on Friday, hitting $723.55. 1,445,884 shares of the company traded hands, compared to its average volume of 1,087,368. ServiceNow, Inc. has a twelve month low of $427.68 and a twelve month high of $815.32. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The business has a 50 day simple moving average of $759.21 and a 200-day simple moving average of $708.95. The stock has a market capitalization of $148.60 billion, a price-to-earnings ratio of 77.39, a price-to-earnings-growth ratio of 4.53 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. ServiceNow had a return on equity of 13.59% and a net margin of 20.34%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the company posted $0.88 earnings per share. The company's revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, equities research analysts predict that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Insider Buying and Selling at ServiceNow

In other news, insider Paul John Smith sold 1,795 shares of the firm's stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $781.06, for a total value of $1,402,002.70. Following the sale, the insider now owns 994 shares in the company, valued at $776,373.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO William R. Mcdermott sold 5,030 shares of the firm's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $753.08, for a total value of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares in the company, valued at $12,935,655.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul John Smith sold 1,795 shares of the firm's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $781.06, for a total transaction of $1,402,002.70. Following the completion of the sale, the insider now owns 994 shares in the company, valued at approximately $776,373.64. The disclosure for this sale can be found here. Insiders have sold a total of 13,164 shares of company stock worth $9,940,303 over the last 90 days. Insiders own 0.25% of the company's stock.

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.