OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes $464,000 Position in ServiceNow, Inc. (NYSE:NOW)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in ServiceNow, Inc. (NYSE:NOW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 438 shares of the information technology services provider's stock, valued at approximately $464,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOW. Vanguard Group Inc. boosted its stake in shares of ServiceNow by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after buying an additional 190,430 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 worth $8,434,235,000 after purchasing an additional 509,467 shares in the last quarter. FMR LLC raised its stake in ServiceNow by 4.9% during the fourth quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock valued at $6,232,339,000 after buying an additional 272,506 shares in the last quarter. Geode Capital Management LLC lifted its holdings in ServiceNow by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after buying an additional 100,670 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of ServiceNow in the 4th quarter worth approximately $2,603,360,000. Institutional investors and hedge funds own 87.18% of the company's stock.

Insider Buying and Selling

In other ServiceNow news, General Counsel Russell S. Elmer sold 62 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $63,426.00. Following the transaction, the general counsel now owns 4,332 shares in the company, valued at $4,431,636. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jacqueline P. Canney sold 66 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the completion of the sale, the insider now owns 3,027 shares of the company's stock, valued at $3,096,621. The trade was a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,872 shares of company stock worth $13,261,400. Corporate insiders own 0.38% of the company's stock.

ServiceNow Stock Up 0.5%

Shares of NOW traded up $5.04 during mid-day trading on Friday, reaching $1,040.22. The company's stock had a trading volume of 1,156,504 shares, compared to its average volume of 1,516,108. ServiceNow, Inc. has a 1 year low of $637.99 and a 1 year 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. The company has a market cap of $215.33 billion, a price-to-earnings ratio of 152.30, a price-to-earnings-growth ratio of 4.51 and a beta of 0.97. The business has a fifty day moving average of $858.93 and a 200 day moving average of $972.52.

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 for the quarter, beating the consensus estimate of $3.78 by $0.26. The firm had revenue of $3.09 billion for 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%. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.41 EPS. As a group, 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 approved a stock buyback program on Wednesday, January 29th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on NOW. Raymond James reduced their price objective on ServiceNow from $1,200.00 to $1,000.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company increased their price objective on shares of ServiceNow from $1,100.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Needham & Company LLC restated a "buy" rating and issued a $1,050.00 target price on shares of ServiceNow in a research note on Tuesday, May 6th. Mizuho dropped their price target on ServiceNow from $1,210.00 to $1,100.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Finally, Jefferies Financial Group dropped their target price on ServiceNow from $1,250.00 to $1,025.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,062.50.

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.