Schonfeld Strategic Advisors LLC Has $335,000 Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Schonfeld Strategic Advisors LLC lessened its stake in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 71.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 316 shares of the information technology services provider's stock after selling 810 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in ServiceNow were worth $335,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NOW. Quarry LP acquired a new stake in shares of ServiceNow during the 4th quarter worth about $27,000. Atala Financial Inc acquired a new stake in shares of ServiceNow during the 4th quarter worth about $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of ServiceNow during the 4th quarter worth about $32,000. FPC Investment Advisory Inc. lifted its stake in shares of ServiceNow by 725.0% during the 4th quarter. FPC Investment Advisory Inc. now owns 33 shares of the information technology services provider's stock worth $34,000 after buying an additional 29 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of ServiceNow during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 87.18% of the company's stock.

ServiceNow Trading Up 3.6%

NOW opened at $1,015.60 on Tuesday. The company's 50 day moving average price is $846.83 and its two-hundred day moving average price is $971.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 1.10. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The firm has a market capitalization of $210.23 billion, a price-to-earnings ratio of 148.70, a PEG ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last posted its quarterly earnings data 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. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the firm posted $3.41 EPS. The company's quarterly revenue was up 18.6% on a year-over-year basis. As a group, research analysts predict that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its board has authorized a stock buyback program on Wednesday, January 29th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Activity

In related news, insider Jacqueline P. Canney sold 257 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $985.00, for a total transaction of $253,145.00. Following the transaction, the insider now directly owns 3,027 shares of the company's stock, valued at $2,981,595. This represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina Mastantuono sold 4,442 shares of the stock in a transaction on 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 directly owns 11,126 shares in the company, valued at approximately $10,733,252.20. This represents a 28.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,844 shares of company stock valued at $14,204,938. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NOW. Oppenheimer reaffirmed an "outperform" rating and set a $1,100.00 price target (up from $970.00) on shares of ServiceNow in a research report on Tuesday, May 6th. TD Securities reaffirmed a "buy" rating and set a $1,100.00 price target on shares of ServiceNow in a research report on Thursday, April 24th. Canaccord Genuity Group lowered their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Mizuho lowered their price target on shares of 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, UBS Group reaffirmed a "buy" rating and set a $1,025.00 price target (up from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, ServiceNow has a consensus rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.