ServiceNow, Inc. (NYSE:NOW) Shares Acquired by Ethic Inc.

Ethic Inc. boosted its position in shares of ServiceNow, Inc. (NYSE:NOW - Free Report) by 21.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,747 shares of the information technology services provider's stock after acquiring an additional 4,620 shares during the period. ServiceNow comprises 0.6% of Ethic Inc.'s investment portfolio, making the stock its 19th biggest holding. Ethic Inc.'s holdings in ServiceNow were worth $27,294,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in ServiceNow in the fourth quarter valued at $2,603,360,000. Proficio Capital Partners LLC lifted its holdings in shares of ServiceNow by 154,255.3% in the 4th quarter. Proficio Capital Partners LLC now owns 666,815 shares of the information technology services provider's stock valued at $667,000 after purchasing an additional 666,383 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in shares of ServiceNow in the 4th quarter valued at about $682,468,000. Price T Rowe Associates Inc. MD grew its stake in ServiceNow by 6.8% during the 4th 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 buying an additional 509,467 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in ServiceNow by 36.7% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,830,419 shares of the information technology services provider's stock worth $1,940,464,000 after buying an additional 491,861 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.

ServiceNow Trading Up 0.7 %

Shares of NYSE NOW traded up $6.64 on Friday, reaching $981.13. 919,297 shares of the company traded hands, compared to its average volume of 1,516,226. ServiceNow, Inc. has a fifty-two week low of $637.99 and a fifty-two week high of $1,198.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $844.85 and a 200 day moving average of $970.48. The stock has a market capitalization of $203.09 billion, a PE ratio of 143.65, a P/E/G ratio of 4.51 and a beta of 0.97.

ServiceNow (NYSE:NOW - Get Free Report) last announced 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. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The company had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the company earned $3.41 EPS. The business's quarterly revenue was up 18.6% compared to the same quarter last year. On average, equities research 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 share repurchase program on Wednesday, January 29th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group restated a "buy" rating and set a $1,025.00 target price (up from $900.00) on shares of ServiceNow in a research report on Thursday, April 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $1,050.00 target price on shares of ServiceNow in a report on Tuesday. The Goldman Sachs Group reissued a "buy" rating on shares of ServiceNow in a report on Thursday, April 24th. Barclays set a $1,085.00 price objective on ServiceNow in a research note on Wednesday. Finally, Robert W. Baird increased their price objective on ServiceNow from $1,010.00 to $1,150.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ServiceNow currently has an average rating of "Moderate Buy" and a consensus target price of $1,048.55.

Insider Transactions at ServiceNow

In other ServiceNow news, General Counsel Russell S. Elmer sold 336 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,017.55, for a total value of $341,896.80. Following the completion of the sale, the general counsel now owns 4,332 shares of the company's stock, valued at $4,408,026.60. This trade represents a 7.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William R. Mcdermott sold 1,263 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $1,019.10, for a total transaction of $1,287,123.30. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,644,564.50. The trade was a 32.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,150 shares of company stock worth $16,550,424. 0.38% of the stock is currently owned by company insiders.

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.