Lazard Asset Management LLC Has $38.96 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

Lazard Asset Management LLC lifted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 25.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,749 shares of the information technology services provider's stock after acquiring an additional 7,349 shares during the quarter. Lazard Asset Management LLC's holdings in ServiceNow were worth $38,957,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Czech National Bank raised its position in ServiceNow by 6.7% during the fourth quarter. Czech National Bank now owns 44,793 shares of the information technology services provider's stock worth $47,486,000 after acquiring an additional 2,829 shares during the last quarter. Aprio Wealth Management LLC boosted its stake in shares of ServiceNow by 28.3% during the 4th quarter. Aprio Wealth Management LLC now owns 453 shares of the information technology services provider's stock worth $480,000 after purchasing an additional 100 shares during the last quarter. Matrix Trust Co acquired a new position in shares of ServiceNow in the fourth quarter valued at approximately $159,000. Winthrop Advisory Group LLC boosted its position in ServiceNow by 9.7% during the fourth quarter. Winthrop Advisory Group LLC now owns 633 shares of the information technology services provider's stock worth $671,000 after acquiring an additional 56 shares during the last quarter. Finally, Fiduciary Alliance LLC raised its holdings in ServiceNow by 184.5% in the 4th quarter. Fiduciary Alliance LLC now owns 1,215 shares of the information technology services provider's stock valued at $1,288,000 after acquiring an additional 788 shares during the last quarter. Institutional investors and hedge funds own 87.18% of the company's stock.

Insiders Place Their Bets

In related news, insider Paul John Smith sold 1,184 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $980.08, for a total value of $1,160,414.72. Following the transaction, the insider now owns 4,204 shares in the company, valued at approximately $4,120,256.32. This represents a 21.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jacqueline P. Canney sold 66 shares of the 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 transaction, the insider now directly owns 3,027 shares in the company, 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 90 days, insiders have sold 15,056 shares of company stock worth $14,421,814. 0.38% of the stock is owned by insiders.

ServiceNow Stock Performance

Shares of ServiceNow stock traded up $8.52 during trading on Thursday, hitting $1,035.34. 986,967 shares of the stock were exchanged, compared to its average volume of 1,517,486. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock's fifty day moving average is $853.85 and its 200 day moving average is $971.90. The stock has a market cap of $214.32 billion, a PE ratio of 151.59, a P/E/G 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.

ServiceNow (NYSE:NOW - Get Free Report) last posted 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 analysts' expectations of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The business's revenue was up 18.6% on a year-over-year basis. During the same period last year, the firm posted $3.41 earnings per share. As a group, sell-side analysts anticipate that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow announced that its board has initiated a stock buyback program on Wednesday, January 29th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of ServiceNow from $881.00 to $950.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Erste Group Bank raised shares of ServiceNow from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. 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. Truist Financial upgraded ServiceNow from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st. Finally, Canaccord Genuity Group lowered their price objective on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, ServiceNow presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.50.

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.